Tax Rebate Checks
Since the economy fell down the tubes in 2008, the Federal Government has tried to stimulate the economy through many different methods. The big corporate bailouts were a secondary attempt to jumpstart the economy after sending out tax rebate checks to the taxpaying people of the United States. A single person was entitled to a six hundred dollar check, and some were even qualified to receive up to twelve hundred dollars.
They sent the checks with the hopes that people would take the check they received in the mail and go out and spend-something Americans are all too accustomed to doing-increasing retail sales and boosting the economy. While many people went out and blew the money right away, the tax rebate checks did not have the effect on the economy the Federal Government was hoping for. Many people, already up to their necks in debt, actually used the money for bills that needed to be paid.
While the rebate checks helped many people make it through another month of payments, it came at a great cost. Over 130 million taxpayers were estimated to receive a check. With each person receiving between six hundred to twelve hundred dollars, you do the math.
The stir about the tax rebate checks created many attempts by criminals to fraudulently obtain a person's personal information. The IRS will only correspond with you through the mail. If you have a phone call regarding your tax refund, do not give them any personal information as it is probably fraudulent.