Starting in May, more than 130 million households will begin receiving economic stimulus payments from the U.S. government.
As part of the Economic Stimulus Act of 2008, the U.S. government plans to return money to U.S. citizens in an effort to charge the country’s economy, which is teetering on the verge of recession.
Eligible individuals will receive up to $600; those in married households are eligible to receive up to $1,200. Parents will get $300 per child under 17 years of age.
To be eligible for the checks, citizens must first file a 2007 tax return, have a valid Social Security number and an income of at least $3,000.
People who are not normally required to file a federal tax return will not receive a stimulus payment unless they take the extra step and file.
Those with an income level under $3,000 in income or over $75,000 individually or $150,000 as a couple are not eligible.
The Internal Revenue Service Web site, www.irs.gov, has a calculator to determine the amount you will receive and when you will receive your check, www.irs.gov/irs/article/0,,id=180250,00.html.
