Tax Rebates On The Way
The tax rebates which President Bush hopes will jumpstart the economy have hit some Edmond direct deposit accounts already.
More than 130 million American households will get money. The Economic Stimulus Payment Calculator can help you estimate the amount of your rebate.
What will people do with the money?
A CNN/Opinion Research Corp. poll found that 41 percent of respondents plan to use their rebates to pay off bills, and 32 percent will put the money in savings. Just 21 percent of those polled intend to spend the money, while 3 percent said they will donate the extra money to charity.
Sixty percent of the public say they are now less comfortable about making a big-ticket financial commitment, such as buying a home or a car, than they were just six months ago, underscoring their more circumspect behavior, according to the RBC Cash poll conducted by Ipsos, an international polling firm, in early April. A year ago, 48 percent said they were less comfortable about making a major purchase
.
Be aware that identity thieves are already pushing scams involving the stimulus payments. At least one telephone scam is making the rounds using the proposed rebates as bait. News release IR-2008-11, IRS Warns of New E-Mail and Telephone Scams Using the IRS Name; Advance Payment Scams Starting, has more details.
There’s more information at the IRS’s Economic Stimulus Payments Information Center.
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