Tax rebates expected by mid-May

WASHINGTON (AP) ‘ Most taxpayers could expect a rebate of up to $600 starting in mid-May under the economic aid plan set to go through Congress.

The Treasury Department says that despite the strains of tax filing season, the IRS will be able to begin delivering the payments within 60 days after President Bush signs the plan into law, and complete the process in approximately 10 weeks, possibly sooner. The payments would come separately from regular tax refunds.

‘The IRS has already begun trying to prepare for this,’ said Andrew DeSouza, a Treasury spokesman. ‘They’ll be ready to go.’

But figuring out if you qualify ‘ and for how much ‘ can be complicated.

People who do not make enough to pay taxes but had at least $3,000 in earned income would get $300. Those earning less than that would be disqualified, as would the wealthiest. Older people living solely off Social Security checks would not get the rebate.

Individuals with adjusted gross incomes of more than $75,000 and couples with income exceeding $150,000 would get smaller checks.