Have you filed your income tax return? Are you one of the early filers that have already received their refunds? If so, congratulations.

Me? I'm one of those wait until March filers. It's a habit I developed when I owned my own business. Back in those days, I usually ended up borrowing money to buy equipment that could be depreciated, or borrowing money to pay taxes.

Either way, it was something that I delayed as long as I could. As my returns have become less complex, I tell myself every year that I should be ready to go as soon as I get my W-2s and 1098s, so I can get it all over with.

But a habit developed over a decade is often hard to break, so I am still scouring through receipts and the checkbook for deductions, getting my little packet ready for my accountant.

I sat down this past weekend and got a good start on the whole process. It's a strange nostalgia trip, looking back at where all of your hard earned money went during the past year. Appliance breakdowns, doctor visits, sick pets, car repairs -- it all certainly goes much faster on the spending side than the earning side.

I'd really have it made if I could just break myself of those nasty vices of eating and living indoors.

Well, it's all worth it when you see how responsibly our government spends our tax dollars.

Riiight....

I read this weekend that the Internal Revenue Service is preparing to send us taxpayers a letter telling us that we will be receiving tax rebate checks in May. That's right, at an estimated cost of $42 million, the IRS is sending out an estimated 130 million letters to households that filed income tax returns in 2006 to tell you the check will be in the mail soon.

Wait, it gets better. Not included in the $42 million is the cost for a second round of mailings planned for people who didn't file tax returns last year but may still qualify for a rebate.

According to an Associated Press report, the letters will tell taxpayers that the IRS is pleased to inform the recipient that Congress passed and President Bush signed into law a plan that will provide payments of up to $600 for individuals who qualify or $1,200 for married couples filing jointly. The rebates are the centerpiece of a $168 billion economic stimulus package.

The actual rebate checks are scheduled to go out starting in May, after the IRS has finished separately mailing out routine refunds for the 2007 tax year. The letters will be a reminder that people need to file a 2007 tax return so they will receive the rebate if they are eligible for it.

Similar notices will go out later to some Social Security recipients and those who receive veterans benefits -- groups that often do not file tax returns. For those people to get a rebate check, they will need to file a tax return if they received at least $3,000 from a combination of certain Social Security benefits, veterans benefits and earned income. The minimum payment for this group will be $300 for an individual and $600 for a couple filing jointly.

Not everyone will be eligible. Singles with income of more than $75,000 and couples with more than $150,000 get only partial rebates, if any. People who earn less than $3,000, illegal immigrants and anyone who does not file a tax return will miss out. Singles with incomes exceeding $87,000 and couples with incomes exceeding $174,000 also won't qualify, although those caps rise by $6,000 per child.

It all will be explained in the letter. Sorry if I spoiled it for you.

Here's a thought, just a suggestion to save oh, about $42 million (which I realize is chump change to the government, but quite a bit to you and I who are footing the bill): tell the news media and keep the change.

But what do I know? I'm still eating and living indoors.

As always, I welcome your comments. You can reach me by email at tstangl@lemarscomm.net, telephone 712-546-7031, x40 or toll free 1-800-728-0066 x40.

Thanks for reading, I'll keep in touch. Feel free to do the same.