The 411 on your rebate check Published Feb. 13, 2008 By Melissa Barlow Tax Center SPANGDAHLEM AIR BASE, Germany -- Everyone has heard the facts, half-truths and rumors on the Economic Stimulus Package, otherwise known as the Tax Rebate checks that will be mailed to some taxpayers later this year. In May the Internal Revenue Service will begin sending out checks to taxpayers living in the U.S. and military personnel assigned overseas. By filling a 2007 income tax return, eligible taxpayers will be registered to receive a check that will automatically be mailed out. Most individuals who are stationed here will qualify for the rebate. According to the income guidelines single taxpayers with an Adjusted Gross Income of $75,000 or less and married taxpayers with an AGI of less than $150,000 are eligible. Depending on what form was used to file, the AGI can be found on Form 1040, line 37; Form 1040A, line 21; or Form 1040EZ, line 4. Single people who qualify can expect between $300-600 and married taxpayers can expect $1,200. Taxpayers with dependants receive an additional $300; for example, a couple who filed their tax return jointly and listed two dependents can expect $1,800. Keep in mind is that this is not "free money," the tax rebates mean that the IRS will adjust the tax tables for Tax Year 2008. This adjustment will result in a smaller return in 2008. If a person receives a rebate check, they need to remember this is taxable income. For more information about this program, visit www.irs.gov, or call Melissa Barlow at 452-1040.