Tax Check

[Lillylu29]

YAY cant wait......

Tax rebates start showing up in bank accounts

Monday April 28, 2:52 pm ET

By Martin Crutsinger, AP Economics Writer

IRS starts sending out first 800,000 tax rebates on Monday, earlier than expected

WASHINGTON (AP) -- The government began depositing tax rebate checks in thousands of bank accounts on Monday as the stimulus program aimed at giving the ailing economy a jump-start got under way early.

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The Internal Revenue Service started making the direct deposits on Monday with the goal of completing 800,000 payments each day over the first three days of this week. No deposits will be made Thursday while the IRS prepares a big batch of 5 million direct deposits scheduled on Friday.

The IRS had expected to begin the program in May but was able to start a few days earlier by utilizing a computer system that can process payments on a daily basis. The government's paper checks will start going out on May 9, a week earlier than previously announced.

The rebates, which are expected to reach 130 million households, range up to $600 for an individual and $1,200 for married couples plus $300 for eligible children younger than 17.

The rebates were the centerpiece of the government's $168 billion economic stimulus package enacted in February and are designed to bolster consumer spending and lift the economy out of the doldrums.

The first wave of payments are going to people who opted for direct deposit on their 2007 income tax returns.

Both the direct deposit payments and the paper checks are being processed by the last two digits of a taxpayers' Social Security number.

For people receiving direct deposits, those with a Social Security number ending in 00 to 20 will have their economic stimulus payment deposited to their bank account by this Friday.

Those with Social Security numbers ending in 21 to 75 will get their direct deposits by May 9 and those with Social Security numbers ending in 76 to 99 will get their deposits by May 16.

For those receiving paper checks, the last paper checks, covering people with Social Security final digits from 88 to 99 will be in the mail by July 11 under the current schedule. The IRS estimates that about two-thirds of the payments will be paper checks and one-third will be direct deposits.

The payment schedule covers people who filed early enough to have their tax returns processed by April 15. The IRS is continuing to urge people who did not file returns because they did not owe taxes to file in order to receive an economic stimulus check.

People who do not have to file a tax return but have at least $3,000 in qualifying income may be eligible for an economic stimulus payment of $300 for an individual and $600 for a couple plus $300 per qualifying child.

"We know there are many people who are eligible for an economic stimulus payment who have not filed a tax return," IRS Commissioner Doug Shulman said Monday. "If you think you may be eligible, even if you don't normally file a tax return, please check it out."

People who have not yet filed returns have until Oct. 15 of this year to do so in order to receive a stimulus payment. The simple Form 1040A along with directions on what lines must be completed for the stimulus payments can obtained by going to the agency's official Web site, http://www.IRS.gov.

Many economists believe the country has fallen into a recession, but President Bush last week disputed that view, saying he believed it was a period of slower growth which would be helped by the stimulus checks.

Democrats, however, pointing to rising layoffs as the economy weakens, contend that more needs to be done. They are pushing for a second stimulus package that would include extending unemployment benefits for another 13 weeks, boosting food stamp benefits and adding billions of dollars for construction projects such as roads and bridges.

Presidential press secretary Dana Perino told reporters Monday that the administration was projecting that the first stimulus measure will create around 500,000 jobs this year and should be given time to work before a second package is considered.

Associated Press writer Ben Feller contributed to this report.

[Hellion]

I know what I will be doing with mine.

[Reaper]

I should be about dead last to get one as mine ends in 99

[Pandora]

Ha, mine ends in 98. LOL

[Lillylu29]

if you had your checks direct deposited, you will get it first..... rather then by your SS number..... When I filed I had them Direct deposit mine so I should have it by friday (i hope). if not mine ends in 12 so im first on the list anyways

[n0Mad]

From another forum:

How to use Your IRS Rebate check...

As you may have heard, each of us will be getting a tax rebate check to stimulate the economy.

If we spend that money at Wal-Mart, all the money will go to China. If we spend it on gasoline it will go to the Arabs. If we purchase a computer it will go to India. If we purchase fruits and vegetables it will go to Mexico, Honduras and Guatemala. If we purchase a good car it will go to Japan. If we purchase useless stuff it will go to Taiwan and none of it will help the American economy.

We need to keep that money here in America.

So here is a list of American companies to patronize:

Colt

Remington

Smith & Wesson

Browning

Winchester

...

Feel free to add to the list.

[Reaper]

Thats hilarious. The only american thing so far is a bunch of guns??

And I had my income tax check direct deposited as well early on in February. So hopefully it won't be that long.

[Destroit]

Wait...

Mine ends in 22...and I'm getting it in the mail?

So does that mean I'm probably looking at May 15th-ish? Why is Uncle Sam such a slacker? I mean seriously...I can believe we pay this guy...

I WANT MY MONEY AND I WANT IT NOOOOW!

There's a very important kitteh-transformation-apparatus that I MUST purchase: http://www.detroitgothic.net/t21678.html

[Rayne]

July ..... nice. Why couldn't we have done direct deposit this year????? I believe this is the only year we haven't.

[Misanthropy77]

I'm using my rebate to come see all of you beautiful people!! Yay!!! I can't WAIT!!!!

[hunhee]

yay!!! birthday wishes to me!!! I'll be getting mine close to my birthday :)

[Misanthropy77]

yay!!! birthday wishes to me!!! I'll be getting mine close to my birthday :)

Yay, You and me both!! Rawk ON..Detroit is gonna have their hands full with both of us partying...LOL!!!!!

[Fierce Critter]

WTF?

This fucking pisses me off bad.

I filed with H&R block this year, and got refund via their fucking Emerald card.

And just called them - this means our rebate will be via paper check.

So, if this goes by Jon's SS#, we probably won't get that check until FUCKING JULY.

And I DESPERATELY needed that rebate in May.

FUCK ME.

[Fierce Critter]

Just checked their schedule.

June fucking 27th.

This is going to be bad. Real bad.

Son of a muther fucking bitch.

[Lillylu29]

Just checked their schedule.

June fucking 27th.

This is going to be bad. Real bad.

Son of a muther fucking bitch.

Im sorry didnt mean to be the berrer of bad news

[Stymie]

Long as I get it before.

Before kids are made to go to FL.

I'll be happy!

Fucking lawyers!

Needing more money x.x

[Reaper]

Since mine ends in 99, but I filed a direct deposit return, they should start no later than May 16th to deposit my check. That should be good and will come in good use for buying the house this year. At least mine is going back into the economy.

[Hellion]

Mine ends in 80,but it will come in handy for a new laptop computer,alone with the 50+hours I have been working.

[sass_in_the_pants]

I dunno when ours is coming. We filed electronically. Looks like mommy's little tax deductions will be even more useful this year.

I think we're going to bank ours for a bit - I'm not quite sure how our financial situation will be once I go down to part time so I'd like to have it handy.

[Miranda]

I woke up to find my refund in my account. Hopefully other's who had direct deposit will get their checks today as well. My ending # was not between 00-22.

[Goth Brooks]

won't be getting mine until the end of june

oh well

[freydis]

I woke up to find my refund in my account. Hopefully other's who had direct deposit will get their checks today as well. My ending # was not between 00-22.

No such luck here. :/

What DOES yours end in?

[Miranda]

No such luck here. :/

What DOES yours end in?

It ends in # 70.

[freydis]

It ends in # 70.

hmm. Maybe i have hope, then. We are 88 and 86...

[Azeuron]

as long as i get it i'll be happy still no clue what i'm doin with it