Rebate Checks

I read this in an article and found it interesting. I guess I better not file an extension this year! "According to the Treasury, anyone seeking a rebate under the program, which President Bush signed into law Wednesday, must file a 2007 federal tax return, preferably by April 15, if they want to receive their check by May or June."

The article went on to say that many seniors don't have to file a tax return because their income is so low. If they don't, they won't get their rebate check. Then a finacial advisor went on to say: "he questions whether it makes financial sense for low-income seniors to use a paid tax preparer just to fill out a return for the rebate. Low-income seniors living on Social Security are most likely to get rebates of $300 for singles and $600 for couples. So even a $50 to $100 fee can eat away a sizeable chunk of that." Yes, but it would still leave them with a few hundred dollars they didn't have before. People are crazy! Click on the title to read the whole article.