- #1
gravenewworld
- 1,132
- 26
Got my $600 Bush "economic stimulus" check yesterday. Spent it already on paying off my credit card. The rest is going to be used to buy gas and food. What are you buying with yours?
jimmysnyder said:Bank it.
A tax rebate check is a refund from the government for overpaid taxes. It is typically given out to individuals or households who have paid more in taxes than they owe.
The amount of the tax rebate check varies depending on individual circumstances such as income, filing status, and number of dependents. The maximum amount for individuals is $1,200 and for married couples filing jointly it is $2,400.
The timing of the tax rebate check depends on when you filed your taxes and how you chose to receive your refund. If you filed electronically and chose direct deposit, you can expect to receive your rebate check within a few weeks. If you filed a paper return, it may take longer, up to several months.
No, the tax rebate check is considered a refund and is not subject to additional taxes. However, if you received an advance payment of the tax credit in 2020, you may need to report it on your tax return and it could affect your tax liability.
Yes, you can use your tax rebate check for any expenses or purchases you choose. However, it is recommended to use it for essential expenses such as bills, groceries, or savings. You may also consider using it to pay off debts or invest in your future.