Stimulus Payment Schedule for Tax Returns

Discussion in 'The Watercooler' started by DammitJanet, Apr 10, 2008.

  1. DammitJanet

    DammitJanet Well-Known Member

    Stimulus Payment Schedule for Tax Returns
    Received and Processed by April 15
    Direct Deposit Payments
    If the last two digits of your Social Security number are:
    Your economic stimulus payment deposit should be sent to your bank account by:
    00 – 20 May 2
    21 – 75 May 9
    76 – 99 May 16
    Paper Check
    If the last two digits of your Social Security number are:
    Your check should be in the mail by:
    00 – 09 May 16
    10 – 18 May 23
    19 – 25 May 30
    26 – 38 June 6
    39 – 51 June 13
    52 – 63 June 20
    64 – 75 June 27
    76 – 87 July 4
    88 – 99 July 11
  2. JJJ

    JJJ Active Member

    Thanks Janet!

    Course, we aren't planning on spending our check, just paying down debt. I think if we could get out of debt, it would be a huge weight off of our shoulders.
  3. klmno

    klmno Active Member

    Thank you!!
  4. SaraT

    SaraT New Member

    Thank you. I knew direct deposits were being done first, just didn't have exact dates.
  5. Shari

    Shari IsItFridayYet?

    Is direct deposit determined by how you filed?
  6. KTMom91

    KTMom91 Well-Known Member

    Now if we can only manage to leave it in he bank, we might be able to get to that family reunion this summer!
  7. Sara PA

    Sara PA New Member

    If you have you refund direct deposited or if you include your bank information on your return even though you aren't getting a refund, your Stimulus Paymen will be direct deposited.

    by the way, there seems to be some misinformation circulating that says f you don't file taxes by April 15th you won't get the Stimulus Payment. Not true. If you don't file taxes, you won't get the Stimulus Payment but there is no April 15th deadline. If you file late, your stimulant Pay will be be later than the schedule. You must file by Oct 15th to get the payment this year.
  8. witzend

    witzend Well-Known Member

    Don't forget that the SS number that is used will be whoever filed as the "Head of Household."
  9. Sara PA

    Sara PA New Member

    Only single people or married people not living in the same household as their spouses for 6 months can file as Head of Household if they have a qualifying dependents.
  10. SRL

    SRL Active Member

    Thanks for the info. I just finished mine and will go back and add the routing info even though we're paying in.

    $1200 owed, $1200 coming from the economic stimulus package. I suppose it could be worse.
  11. crazymama30

    crazymama30 Active Member

    Also realize that the additional money for kids is only available if they are eligible for the child tax credit. I have to call and get info on this, as when I go to the IRS web site and use the economic stimulus package calculator I do not get the extra money. My kids qualified for the additional child tax credit but not the child tax credit. I don't quite get that.
  12. SRL

    SRL Active Member

    Thanks, I checked at the IRS homepage and they have a calculator online. It looks like I'll be getting the $300 for each kid too, but I won't be holding my breath til the check's in the bank...
  13. KTMom91

    KTMom91 Well-Known Member

    crazymama, the difference between the child tax credit and the additional child tax credit is that the child tax credit actually reduces the amount of tax you pay. If you have no tax owed, the additional child tax credit kicks in. Children are eligible if they are 16 or younger during the tax year. If they turn 17 that year you no longer get the credit.
  14. SRL

    SRL Active Member

    Just a heads up: I heard on the radio yesterday that it's not yet been decided whether the rebate will need to be claimed as taxable income on our 2008 tax returns. Apparently the last time we got rebate checks we did need to claim it as income so you might want to plan accordingly just in case.
  15. ctmom05

    ctmom05 Member

    Thanks for the info Janet. While we also have debt to pay down like many others who posted here, we are looking forward to the economic boost.