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Rebates May Arrive Under Recovery Plan Details
The plan aims for up to $600 per taxpayer starting mid May with larger amounts for couples and families. IRS readiness is noted though complex eligibility rules apply, targeting middle and low income while phasing out with higher incomes. Individuals earning above $75,000 and couples over $150,000 face smaller payments. IRA 401(k) and health savings accounts are not counted toward limits.
MENTIONED IN THIS ARTICLE
Washington
Congress
Internal Revenue Service
Treasury Department
IRS
Bush
Andrew DeSouza
Treasury
Douglas W. Elmendorf
Brookings Institution