Friday, February 15, 2008

IRS commish: Must file a return to get rebate

I wonder if H&R Block or Jackson-Hewitt spent any lobbying money supporting this bill?

Link HT: TickMarks

Payments will be processed through Dec. 31. The IRS has been budgeted $202 million to handle the rebate checks. The IRS expects to process an additional 10 to 20 million returns this year as a result of the rebate. Payments to higher-income taxpayers will be reduced by 5 percent of the amount of adjusted gross income above $75,000 for individuals and $150,000 for those filing jointly.