The health and stability of our economy is vital to the progress of our nation. Which is why the Economic Stimulus Act of 2008 was passed by Congress and signed into law by the President on Feb. 13 2008 .

It provides a refundable federal tax credit that most taxpayers will receive in the form of a rebate check, starting in May. The following information in this section is provided to help you better understand how the tax rebates will affect you.

The vast majority of Americans who qualify for the payment will not have to do anything other than file their 2007 individual income tax return to receive their payment this year. The IRS will use information on the tax return to determine eligibility and calculate the amount of the stimulus payments.

Stimulus payments will be direct deposited for taxpayers selecting that option when filing their 2007 tax returns. Taxpayers who have already filed with direct deposit won't need to do anything else to receive the stimulus payment. For taxpayers who haven't filed their 2007 returns yet, the IRS reminds them that direct deposit is the fastest way to get both regular refunds and stimulus payments.