Washington, D.C. —- U.S. Rep. Bob Etheridge (D-Lillington) today told residents of the Second Congressional District to be on the lookout for their Recovery Rebate checks.
The IRS will begin distributing the economic stimulus tax refunds May 2.
“With rising prices for everything from gas to groceries, North Carolina families are struggling in an uncertain economy,” said Etheridge. “The Recovery Rebate checks will help families to make end meets and will give the economy a boost.”
The payments will be issued according to the last two digits of the main filer’s Social Security number. Taxpayers with direct deposit payments will receive their deposit between May 2 and May 16. Taxpayers receiving their rebates by paper check will receive their rebates between May 16 and July 11. A full schedule can be found at www.irs.gov.
3.9 million North Carolina households are eligible for a tax rebate under the Recovery Rebates and Economic Stimulus for the American People Act. The average N.C. household will receive $872, with a total of $3.4 billion in rebates across the state.
Tax payers will receive up to $600 per single tax filer and $1,200 per couple, and a rebate of $300 for each child. All individuals who earned at least $3,000 will receive at least $300 per single tax filer, $600 per couple and $300 per child. The rebates begin to phase out at $75,000 for an individual and $150,000 per couple.
The final version of the legislation includes rebates for additional seniors and veterans that were not covered in the initial version of the bill. The package will provide $300 for individuals who did not pay income tax, but received at least $3,000 in Social Security or veterans’ disability benefits.
Congress is also additional considering legislation to help keep families in their homes, provide relief to millions of out-of-work Americans; and more aid to families who are struggling with rising grocery prices.