They reduce the amount by any outstanding tax liability you have.  Also, if you're in the 25% bracket, you may not have made enough to qualify for the full $1,200--they don't count dividends, cap gains, IRA retirement income, and various other categories.  See the IRS website: http://www.irs.gov

CH 

Based on the IRS own calculation tools, I am entitled to the full $1200.

Now I did owe $483 which I paid before April 15th. The IRS cashed the check,

So, I don't know what the problem is. I am waiting for my letter of explanation :-)

Jeannette 

Jeannette10 --

You answered your own question.  The IRS was clearly subtracting the amount you owed in April from the $1200.  The small difference could be a small computational disagreement or an interest / penalty charge regarding the April payment you made.

Why don't you cool your jets until the deposit hits your account this coming Friday.  It's possible that you'll still get the full $1,200 if their computer updates its figures to reflect your recent payment.

If not, the $1,200 refund is actually an advance on a $1,200 credit you'll be entitled to on next year's 1040.  If you don't get the full rebate this year, you should get credit for the difference on next year's return.  Or, the IRS may send you a tax refund check in the next few weeks since you've now "overpaid" your taxes.

Well, Just got mine and alittle More...They even gave me For being Married ( double $) but I've been a Widower for over 10 yrs !  LOL

I got mine via a Check..Not Direct Deposit..

Allowed me to go Upgrade to a bigger HD TV from a 42 to a 47"  and 1080 with DVD and Theatre sound system...

Won't be able to afford the CABLE Bill, but looks nice in the "entertainment " room..

and since it's worth $600 to Married couples? and $300 for each Child?

The Polygamist in Utah are Making out ok on this deal..LOL