Income taxes?

I've heard that the goverment is giving employed persons 800 dollars and parents with depends, 300 dollars for each. Is this true? To whom does this apply? (I live in ohio if that makes a difference)

Public Comments

1. http://www.msnbc.msn.com/id/22782454 This has all of your info... It's $600 for individuals and $300 for kids 17 and under... Read the link for specifics.
2. There is a good website calculator by Consumerism Commentary to determine what you'll be eligible for. It's been reviewed by CPAs and tax experts for accuracy and is an update to the one PBS published a few weeks ago. Try: http://www.consumerismcommentary.com/2008/01/28/economic-stimulus-tax-rebate-calculator/ Don't forget that you'll need to file your 2007 taxes to be eligible for the Bush stimulus rebate. Good luck!
3. It's true - if you qualify. The tax rebate is based on your 2007 earnings and Federal Income Tax liability. You would be eligible to receive a rebate of up to $600 if you paid that much in Federal Income Tax. If you only paid $350 in taxes (less than the $600 rebate limit), you only get back $350. If you had earned income or social security of at least $3000, you would get at least the minimum rebate of $300. Similarly, couples filing jointly can receive up to $1200. If you qualify for a rebate, you will receive $300 for each dependent child under 17. Use the Kiplinger rebate tax calculator (link below) to compute your rebate.