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As early as May, the IRS will be sending the stimulus payments to some 130 million households. People with taxable wages, investment income, or retirement income in 2007 will receive rebates of up to $600 for individuals ($1,200 for couples). Full payments will go only to single people with less than $75,000 in adjusted gross income ($150,000 for couples). Rebates will be gradually reduced for those with higher incomes, and people making over $87,000 ($174,000 for couples) won't get any rebate. Anyone qualifying for a rebate will receive an additional $300 for each dependent child under age 17 residing in the household 31 December 31, 2007. Additional IRS guidance
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