KPLC 7 News, Lake Charles, LouisianaTax Rebate Reality
Reported by: KPLC Staff
A few months back, millions of americans found out they will qualify for hundreds of dollars through President Bush's economic stimulus package.
But is your tax rebate check free money or is there a catch?
One hundred sixty-eight billion dollars will be shipped out to Americans who qualify for a portion of the economic stimulus package.
Once word got out that $168 billion are being shipped out as early as May, some people thought the rebate is a loan from the government and that you would have to pay it back or that it would actually increase your taxes.
A spokesperson for the IRS says, "The Tax Rebate is not going to reduce your refund for 2008 or increase any taxes you owe for 2008."
If you already owe federal or state taxes, the rebate check will be applied to that first just like a regular tax refund.
Checks are expected to come as early as May.
