What can you tell me about these Tax Rebates I've been hearing about? Recently the Administration and Congress agreed to an economic growth package that would provide advance payments (known informally as "rebates") to many Americans beginning in May 2008.

The $168 billion economic stimulus package just passed by Congress will ship checks of up to $600 for individuals and $1,200 for couples starting in May. Most households will get these checks, although individuals with adjusted gross incomes of more than $75,000 and couples making more than $150,000 will see less or nothing at all.

While not all the details are available regarding these rebate checks just yet, you can learn about some of the main points by visiting the "Information on Stimulus Package" page of the IRS's website.

But is this really "free money?"
What to keep in mind while you are waiting for your rebate check...