The package will pay $600 to most individual taxpayers and $1,200 to married taxpayers filing joint returns, so long as they are below income caps of $75,000 for individuals and $150,000 for couples. There is also a $300 per child tax credit.
The rebates will put about $120 billion in the hands of individuals in the hope that they will spend it and boost a faltering U.S. economy.
Yes, that worked so well, didn’t it?
Here’s a little reminder: this was not a gift. It was a rebate. You have to declare it on your 2008 taxes.
Bill’s due April 15, suckaz!