New Financial Plan

It looks like tax rebates will be coming by the summer time in hopes of juicing the economy.  Maybe lots of people will go out and spend on trips and treats.  Then we might see a hint of better news, especially if unemployment and the service sector look better with extra spending on top of seasonal job creation.  Any additional spending that does go on will factor in when results come out in the fall.  Hmm, I see stimulus aimed at kicking in heading into elections.

As to how they work the latest information I saw is here. The checks are an advance payment of tax breaks in effect for 2008. But they will be sent out based on your 2007 numbers. Those lucky enough to qualify before but not now will get to keep their checks.  People who are eligible for more money now than they were last year will get the extra money when they file next spring. The changes in eligibility highlighted are change in income and change in children.  If your income comes down or dependant children go up you can get the credit next year when you file.  If your income goes up too much, or children are no longer dependant this year, you can still keep any money sent based on 2007’s filing.