Why You Need to File Your 2007 Tax Return

Do you want a tax rebate?
I will be honest, I don't like the rebates as I have blogged here.  But it seems they will be coming late spring or summer. I won't get into how much or when until a final bill is sent to the President and the IRS announces their procedures for handling the checks. What I will suggest is  that you get your 2007 return filed on time this year. While details are being hammered out, I am assuming that the IRS will figure your rebate on that return. That has been SOP on the previous tax rebates.
What happens if you you file late and don't get a rebate? Previously, the rebate was an advance on a tax reduction. Those who didn't get the advance, got the money as part of their tax return. There was a calculation on the return. I am assuming that will happen again. But if you want your rebate this summer, you need to file your taxes.