I think its likely that alot of people will miss out on the rebate because inorder to get it you have to file your 2007 taxes.The IRS has been saying that they were going to start mailing out the rebates in May.
The people who have already filed their taxes for 2007 which I think showed about $3000 in income that qualifys of course won't need to do anything eles.I know that the IRS will probably assess their rebate eligibility
and will start sending out checks to the people that qualify.Even qualifying income just for the purpose of the rebate is going to include wages,salaries, social security benefits and also certain veterans and retired rail road workers benefits.
From what I hear the IRS plans to send tax filers two notices.one to explain the stimulus payment program and the other is to confirm the amount of your rebate.
I also read that the IRS Commissioner Linda Stiff said that the second notice will come seven to ten days before you recieve your payment that is if you want your check sent by mail.If you want to do a electronic direct deposit on your 2007 tax return she also said that the second notice may come right along with your payment.
Of course selecting direct deposit for your 2007 tax return is definitely the fastest way to get your rebate payment.It will take about a week longer filing anyother way.But rebates will also be sent out by check to filers who has taken out refund anticipating loans or may have gotten into an agreement with their tax preparer this way you don't have to worry about the refund going into the preparer's account.
Also they mentioned (IRS) That the rebate checks will probably be sent seperately from the 2007 refund that may be comming to you.
Even the people that are eligible still may not get one,and if they do recieve one it may not be the full amount and you better not owe any back taxes or any non tax federal liabilities like past due child support or student loans because the IRS is going to apply part of your rebate to those liabilities.
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