>How much are you getting? I just ran the calculator and found out I will get 900.00! Wow, this freebie stuff is amazing (except it's not really free). Also, I believe we have to turn around and add it as income for tax year 2008.
>
>http://www.irs.gov/app/espc/
>
>(You need your 2007 Form 1040, Form 1040EZ, or Form 1040A available to use the calculator)


See: http://www.irs.gov/newsroom/article/0,,id=179181,00.html

"Q. Is my stimulus payment taxable?

A. No. You will not owe tax on your payment when you file your 2008 federal income tax return. But you should keep a copy of the IRS letter you receive later this year listing the amount of your payment. In the event you do not qualify for the full amount this year but you do next year, you will need to have the letter as a record of the amount you previously received.

Q. Will the payment I receive in 2008 reduce my 2008 refund or increase the amount I owe for 2008?

A. No, the stimulus payment will not reduce your refund or increase the amount you owe when you file your 2008 return."