The Treasury Department will be issuing Recovery Rebate checks earlier than anticipated. Individuals who used direct deposit when filing their taxes will begin receiving their rebates on Monday, April 28; paper checks will begin going out on Friday, May 9, for those who did not use direct deposit. To maximize the intended effect to stimulate our economy, individuals are encouraged to put their rebate money back into the economy through discretionary spending.
Individuals who receive their income from social security, railroad benefits, or disabled veterans’ benefits are eligible to receive a rebate check but must file a tax return. Although the April 15 filing deadline has passed, these individuals have until October 15 to file their 1040 forms. If you have questions about your eligibility or about filling out your tax form, please call my office at 410-685-9199.
An economic stimulus rebate calculator is now available on the IRS website. Click here to determine the amount of your tax rebate.
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