Economic Stimulus Plan Approved By Congress…$600 To $1200 Checks To Be Sent
About 116 million families will receive tax rebate checks.
The United States Congress and White House reached a deal today to distribute tax rebate checks. The checks will range from $600 to $1200 - those with children will receive a bit more.
The eligibility requirements to receive a check are:
Those who earn up to $75,000 individually or up to $150,000 as a couple will be eligible for the payments - CNN
Check amounts explained:
Individuals who pay income taxes would get up to $600, working couples $1,200 and those with children an additional $300 per child under the agreement. Workers who make at least $3,000 but don’t pay taxes would get $300 rebates. - Yahoo Finance
Also in this package is $50 billion in tax cuts for businesses. While the tax cuts for businesses start immediately, Congress hopes to have the tax rebate checks in people’s mailboxes by June.
Now that this plan has been approved, what do you plan to do with your rebate check?
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Just Squeaking By is a blog about my personal finances and my quest to get them in order. Read more about Just Squeaking By
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This hasn’t been approved by Congress yet… the House is discussing and voting next week, the Senate to follow.
Will this money also be paid to those who are self employed tax payers? My sister said they didn’t qualify for an economic stimulus pay out shortly after 911 because they were self employed. Does anyone know?
It is my understanding that as long as you don’t exceed the income amounts listed above ($75,000 single - $150,000 couple), you will receive a tax rebate check from the government. It doesn’t matter if you’re self employed or not.