Anyone hear about the $800 Gov't Tax Refund?

I heard something about it on the news that Pres Bush wants to "ward off a recession" so he is giving out checks for $800 for individuals.
Does anyone know if this is true and/or where I can find more information about it?

TIA!

Re: Anyone hear about the $800 Gov't Tax Refund?

First of all, this is a PROPOSAL, not a done deal. Nobody gets anything unless Congress passes a rebate, and if they do, there's no guarantee that it will match what the president talked about in his speech. Only congress can change the tax law to allow this. The president can only suggest it to them, and he did.

As proposed though, it is a REBATE on taxes - so only people who pay taxes would get it. The proposal was to eliminate charging tax on the 10% bracket, the lowest bracket. Amount would be up to $800 per individual filer, or $1600 for a married couple filing a joint return, but only if you paid that much in income tax for 2007. You wouldn't have to fill anything out, they'd figure the amount from the IRS records of what you filed for this year.

If it's passed soon and as proposed, it's estimated that the checks could come as early as June.

Re: Anyone hear about the $800 Gov't Tax Refund?

Here is a link....a bit difficult to follow though (possible google tax rebate...that's how I got this link through ask.com) HTH

rebate