The Wall Street Journal-20080214-IRS Details Rebate Procedure

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IRS Details Rebate Procedure

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WASHINGTON -- Most taxpayers won't have to fill out additional paperwork to receive the tax-rebate checks that will be mailed out starting in May, the Internal Revenue Service said.

"If you are eligible for a payment, all you have to do is file a 2007 tax return and the IRS will do the rest," Acting IRS Commissioner Linda Stiff said in a statement.

Yesterday, President Bush signed a $168 billion economic stimulus bill, which provides for $300-to-$600 rebate checks for individuals and $1,200 rebates for couples.

The IRS will use information on the 2007 tax return that taxpayers file this year to see if they are eligible for a rebate check and the size of the payment.

The IRS will begin sending the payments in early May, which allows the agency time to conclude its annual tax-filing season. According to the IRS, payments to more than 130 million taxpayers will continue over several weeks during the spring and summer. A payment schedule for taxpayers will be announced in the near future, the agency said.

Taxpayers who have selected direct deposit for their refunds on their 2007 return will also receive their stimulus payments by direct deposit.