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The Stimulus Plan: How Much Will I Get?

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Feb 13, 2008 3:18 pm US/Eastern

The Stimulus Plan: How Much Will I Get?

BOSTON (WBZ) ― President Bush signed a multibillion-dollar economic rescue package on Wednesday that means rebates of $300 up to $1,200 for many American households.

Rebates are to go out beginning in May to taxpayers and low-income people, including seniors living off of Social Security and veterans who depend on disability checks. Businesses would get tax breaks for investing in new plants and equipment.

Most taxpayers will receive a check of up to $600 for individuals and $1,200 for couples from the Internal Revenue Service, with an additional $300 per child.

People earning at least $3,000 and those who owe little or no taxes would get $300 for singles, $600 for couples.

Those making more than $75,000 and couples with income exceeding $150,000 are to get smaller rebates -- $50 less per $1,000 they make over those thresholds.

According to the IRS, most people who will get a refund check only need to file a 2007 tax return. The IRS will do the rest.

For more information, visit www.irs.gov.

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