Tax rebateIf you haven’t heard yet, US lawmakers approved a $170 billion plan to spur the slowing US economy. The centerpiece of this plan is tax rebates. The following information summarizes the key facts.

Who qualifies?
One-time rebates will be sent to at least 117 million low- and middle-income households, 20 million senior citizens living off of Social Security, and 250,000 disabled veterans.

How do I qualify?
To be eligible for a full rebate, single tax filers must have 2007 adjusted gross income (AGI) below $75,000 and joint filers must have AGI below $150,000. You must also file a federal tax return for 2007.

What will I receive?
Single filers with AGI below $75,000 will get rebates of as much as $600. Couples with AGI below $150,000 will receive rebates of up to $1,200. In addition, parents will also receive $300 rebates per child under 17; there is no cap on the number of qualifying children eligible.

When will I receive the rebate?
Treasury Secretary Henry Paulson said it should take about 10 weeks to issue all the checks. As a result, you could see the money sometime between May and early July.