When you should get your stimulus check

[Christine]

Learn when you'll get a tax rebate check - MSN Money

Learn when you'll get a tax rebate check

The IRS will begin sending out the first of 130 million economic stimulus checks May 2. When you get yours depends on your Social Security number.

 

The exact date you receive a stimulus check will depend largely on the last two digits of your Social Security number.

 

More than 130 million stimulus payments will be sent out starting May 2, on a staggered schedule based on the last two digits of taxpayers' Social Security numbers, the Internal Revenue Service announced this week. On jointly filed returns, the mailing schedule will be based on the first Social Security number listed, the IRS said.

 

For taxpayers who file by April 15 and get their tax refunds deposited directly into a bank or other financial account, the IRS will send stimulus payments from May 2 through May 16. For taxpayers who file by April 15 but don't choose direct deposit, the IRS will mail checks from May 16 through July 11.

 

Procrastinators, take note: For stimulus payments to be part of this delivery schedule, the IRS said tax returns must be "processed" by April 15, not "filed." That implies that a later timetable may apply to taxpayers who mail their returns on or close to April 15, leaving little time for the returns to be processed by that date.

 

If you expect a tax refund and choose to directly deposit it into two or three separate accounts, the IRS will send your stimulus check in the mail. (To have your refund sent to more than one account requires you fill out Form 8888. See this IRS page for more information.)

 

If you owe taxes and are sending a payment to the IRS with your return, you can still have your stimulus payment deposited directly into a bank or other account, the IRS said. Simply fill out the appropriate section on your return related to direct deposit, detailing your account information. See this IRS page for FAQs on stimulus payments.

 

If you do owe taxes, be sure to fill out your return and send payment as usual. That is, don't try deducting your expected stimulus payment from your tax bill. If you don't pay your tax bill by April 15, you likely will owe interest and penalties, said Anthony Burke, an IRS spokesman.

 

However, if you have a past-due federal or state income-tax bill or some other type of past-due federal debt such as student loans or child support, your stimulus payment likely will be reduced by what you owe.

 

This is the stimulus payment schedule for tax returns processed by April 15, the IRS said:

 

There may be exceptions, the IRS warned. "A small percentage of tax returns will require additional time to process and to compute a stimulus payment amount. For these returns, stimulus payments may not be issued in accordance with the schedule above, even if the tax return was processed by April 15," the IRS said in this week's press release.

 

"We have some returns that require a second look, that require us to pull them out of the processing for some reason or another," Burke said. "It may not be that there's anything wrong with the return."

 

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The "vast majority of people" will receive stimulus payments according to the posted schedule, Burke said, "but it's a big system, a lot of returns go through our pipeline," so some returns may not go exactly according to schedule.

 

Also, the IRS said there's a new online calculator taxpayers can use to figure how big their stimulus payments will be. You'll need to have a completed 2007 tax return on hand to use the calculator.

 

This article was reported and written by Andrea Coombes for MarketWatch.

[Martha]

Yay! I am in the first set of checks and FI's is in the second! Wedding money!

 

Thanks!

[Spazz]

Thanks for the info!

Mine is expected to come on my wedding day!

[Christine]

oh Lizz that is so cool!

[Jessica]

i can't wait to get this check!!

[jajajaja]

Woohoo May 16! Too bad for FI. He hasn't even filed yet. Sucka!

[Natalie Z]

thanks I can't wait to get this.

[Christine]

Natalie did you know that you can file for the child amount through your 2008 taxes, since Cooper will be born this year.

[Natalie Z]

Quote:

Originally Posted by Christine Natalie did you know that you can file for the child amount through your 2008 taxes, since Cooper will be born this year.

Yes, lance just mentioned this to me the other night! This is great!

[Yari]

Thanks for posting this!! I am in the second round of checks!! Yay!!!