How Do I Get My ‘Economic Stimulus’ Tax Rebate?

(AP) — Given all the talk about the economic stimulus measure approved by Congress earlier this year, it’s only natural that people wonder when their payments will arrive. The good news is that almost everyone is eligible to get the money, with payments going out starting in May.

All you need to do is file your 2007 federal income tax return. The IRS will take it from there. A word of caution. People who get mostly Social Security and veterans’ disability benefits and who don’t usually file returns will have to file to get the money.

And if you use direct deposit for your tax refund, that will also be how you will get your payment.

The maximum rebate is $600 per person, or $1,200 for taxpayers filing a joint tax return. There’s an additional $300 for each eligible child.

If your income is too high, however, you could lose some or even all of your rebate. And if you owe back taxes to the IRS, your payment will go to cover what you owe.