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Tax rebate questions answered.

Publication: San Francisco Chronicle
Publication Date: 24-FEB-08 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Tax rebate questions answered.(NET WORTH)(Column)

Article Excerpt
Byline: Kathleen Pender

The Internal Revenue Service expects to begin distributing tax rebates by direct deposit on May 1 or 2 and by mail a week later, IRS Acting Commissioner Linda Stiff said Friday.

The IRS plans to announce the order of distribution next week. Stiff said it probably will be based on where people live and the digits in their Social Security numbers. The distribution will continue through summer.

Stiff held a news conference to report on its rebate plans, answer questions and clear up some misconceptions. I'm hoping this update also will answer most of the questions I have been getting from readers.

If you want to get a rebate this year, you must file a 2007 federal tax return, even if you don't owe federal income tax. Not everyone will qualify for one, however.

Stiff urged people to file by April 15 and choose direct deposit for their refund. Those who choose direct deposit will have their rebate deposited directly into their bank account, separately from the refund.

If you owe tax for 2007, you can still get the rebate deposited into your bank account by providing the routing and account number - which can be found on...

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