How to Calculate Your Rebate

Here’s a handy worksheet to calculate your potential rebate on paper, compliments of the greatest little tax reference handbook company ever:

http://www.thetaxbook.com/updates/2007/2-23-2008_Update/stimulus_worksheet.pdf

Remember that you need to file a 2007 tax return in order for the IRS to calculate a rebate.

To calculate on an Excel template, RIA provides this link to download the template:

http://ria.thomson.com/checkpoint/economic/calculator.xls

If you ordinarily have direct deposit of your tax refund set up with the IRS, you will be among the first to receive your rebates by direct deposit. All others will be processed manually, on a schedule that starts in July and goes through September, based upon your social security numbers.

So if you want the rebate sooner than later, efile your 2007 income tax return with your bank account direct deposit information by April 15, 2008.