Retailers eye tax rebates arriving today

April 28, 2008 8:32:26 AM PDT
Those long-promised tax rebates are now on their way to U.S. taxpayers. People who chose to have their rebates directly deposited into their bank accounts will see the money there beginning today. The government's paper checks will start going out on May 9th, a week earlier than previously announced.

The extra cash is part of the economic stimulus package intended to help Americans cope with rising gasoline and food prices, as well as aid a slumping economy.

The Internal Revenue Service says all checks for those who filed tax returns on time are scheduled to be deposited or mailed by July 11th.

President Bush announced last week that the rebates would go out a bit earlier than expected.

Click here to see the IRS FAQs on the stimulus package.

The Economic Stimulus Calculator can help you estimate the amount of your payment.

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