Question:

Can I get a federal income tax guide to calculate my mortgage interest deduction and tax rebates?

Answer:

About calculating federal income tax and mortgage interest deduction rules, you'll have to contact a tax professional for correct filing. IRS rules for filing taxes and deductions are muddy waters and unless you are experienced filing complicated tax returns, or an accountant, you'll surely need professional assistance.

Also, about home loan interest tax deductions there are a number of answers already available on MortgageQnA you might want to look at.

Some Facts about the Economic Stimulus Payments

Rather than federal income taxes and home loan interest tax deductibility, most consumers are now concerned with the schedule for the government tax rebates available this year to individuals with income between $3000 and $75,000.

Rebate payments will be made via direct deposit or check, depending on how you filed your 2007 tax return. Payments will be sent throughout 2008. Stimulus payments will need a minimum of six weeks after that to arrive.

If you are using a Refund Anticipation Loan (RAL), or have any other financial arrangement with your professional tax preparer, you will receive a paper check for your economic stimulus payment.

Detailed information and answers to questions regarding current tax rebates can be found on the IRS website.

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