Early Rebate Checks

[christytorres]

Please read the following article out..we are getting our rebate checks early..I will get mine on monday..yee haw
Tax rebate checks will start arriving in early May:thumbup:

By Christian Giggenbach
Register-Herald reporter

The IRS will begin issuing the first of more than 130 million tax rebate checks in early May, government officials said Friday, but in what order is yet to be determined.

The Economic Stimulus Act of 2008 was designed to pump millions of dollars into a sagging economy and is a key element in President Bush’s economic recovery plan.

“Checks will begin arriving in early May and will continue to be mailed through spring and summer,” acting IRS commissioner Linda Stiff said during a telephone conference call Friday.

Stiff said only those who file a 2007 federal tax return are eligible for the tax rebate, and certain restrictions do apply. Some citizens who normally are not required to file a tax return will have to file this year in order to qualify for their tax rebate.

“Even if you are not required to file a tax return, you must file a 2007 return to get a stimulus payment this year,” Stiff said.

Stiff said low-income workers, Social Security beneficiaries, some railroad retirees and others are included in the groups which will need to file tax returns this year in order to be eligible for the rebates.

“Individuals can expect to receive between $300 to $600 and couples who file jointly can expect checks between $600 to $1,200,” Stiff said. “An additional $300 can be expected for each qualifying child.”

Stiff said some higher income taxpayers — individuals who make over $75,000 per year or couples who make a total of $150,000 per year — will receive reduced tax rebates.

Stiff said using direct deposit while filing a tax return is the fastest way to receive a rebate check.

Stiff said more information will become available to the public in the coming weeks, and also suggested taxpayers visit www.irs.gov for specific details.

“The IRS will be helping taxpayers at thousands of sites across the nation and will be partnering with AARP and other groups to make sure taxpayers receive their payments,” she said.

However, the big question of what order the checks will be distributed wasn’t revealed Friday.

“We are still working on the order of distribution and we will have that information available soon,” Stiff said.

— E-mail: cgiggenbach@register-herald.com

[christytorres]

I posted the wrong article..I am due to get mine May 2nd..but will arrive April 28th..sorry..here is the correct one..

[christytorres]

Here is the correct one..sorry...

NEW YORK (CNNMoney.com) -- The federal government, eager to boost the flagging economy, will start distributing special stimulus payments Monday - four days earlier than expected.

"Beginning Monday, the effects of the stimulus will begin to reach households," President Bush said Friday. "This money is going to help Americans offset the high prices we're seeing at the gas pump and at the grocery store."

The department announced the early arrival of the payments Thursday after saying last month that it would begin sending out the money on May 2.

As of next week, 800,000 tax filers daily will begin to have their checks directly deposited Monday, Tuesday and Wednesday. No checks will be distributed Thursday, and 5 million payments will be made Friday.

The payments will go out ahead of schedule because of a new computer program that updates records daily - faster than an older program that updates weekly, according to Andrew DeSouza, a Treasury spokesman.

Overall, the Treasury will distribute more than $110 billion to 130 million taxpayers by July and hopes to get the first $50 billion out by the end of May, DeSouza said.

The checks are the centerpiece of an economic stimulus program signed into law by President Bush in February. The aim is to boost consumer spending and help mitigate problems caused by the slowing economy.

Checks are being distributed to people who file 2007 tax returns. Those who opt for direct deposit with the Internal Revenue Service will start getting payments before those who use the mail.

The program calls for rebates of up to $600 for single filers making less than $75,000. Couples making less than $150,000 would receive rebates of up to $1,200. In addition, parents would receive $300 rebates per child. Filers who do not owe income taxes but have at least $3,000 in income would get a $300 payment.

Payments to taxpayers slated to get paper checks will start to go out May 9 - one week earlier than originally planned.

The order in which tax filers will receive their payments will be based on the last two digits of their Social Security numbers.

Issue #1 - America's Money: All this week at noon ET, CNN explains how the weakening economy affects you. Full coverage.

Under the government's economic stimulus plan, 130 million people will receive tax rebate checks for $300 and up, starting Monday. What do you plan to do with your check? How do you think the stimulus plan will affect the economy? Send us your photos and videos, or email us and tell us what you think.

First Published: April 24, 2008: 5:44 PM EDT

The tax debate we need to have

Slowdown could have been avoided

[MMGCA]

good for the ones that they are getting it!....we are not! :sad:

[J3NNI]

i found the payment schedule
http://www.irs.gov/irs/article/0,,id=180250,00.html

[christytorres]

Thanks J3nni..for posting it..but they said on Good Morning America..that they will start to be in people's accounts who ever did there's direct deposit..come monday..I sure hope so..

[Marie]

everyone who direct deposit is monday?

[Emily]

I sent in an amended tax form for my tution reimbursement. Hmmm I wonder if that will cause me to actually get a rebate check. what do you guys think? My hubby has an itn number but on the amended form it was only me on it.

[christytorres]

Yes for the direct deposit people, it starts monday..so check your accounts..and as for Emily..I am not sure..maybe you should call the IRS to find out..good luck

[Theresa]

i think i read somewhere that all direct deposits will be done by may 2nd anyone else heard of this?

[madrika]

I did here they were starting monday but I had not heard all would be in by May 2nd. That would be SWWWWWEEEEEEEETTTT!!!!!!

[Theresa]

i read that on msn money and they sd for the ppl who mailed theres in that the irs will have all theirs out by may the 9th.

[nineten]

Yippee!! Can't wait!!!

[aprilstorm]

This is great news.....last I heard those who filed direct deposit would all have theirs by May 16 and then the paper checks would be mailed.....this is good because my daughter is having some problems...now I won't have to worry so much.

[akiselyk]

I filed jointly with my husband using his ITIN number and my SS number... our accountant says we are not eligible for the rebate because of my husband not having a SS.... I assume this is the case..... anyone else in the same situation being told that?

angie

[djones9714]

You are correct -- in order to receive the rebate, everyone must have a valid SSN number, including children unless you filed separately.

[aprilstorm]

They are going to be talking about it on the local news tonight.

[milliesmom]

:yay: Yay for money! :yay:

[sandra191406]

How do I know if I'll get a rebate ???

[milliesmom]

You can check the IRS website (http://www.irs.gov/irs/article/0,,id=177937,00.html). they have calculators and such to help you determine if you're getting it or not.

[lauren32983]

Anyone know if I will get one?

My husband has a valid SSN and we filed Married Filing Jointly. We should have had a return but they took it because my husband owed some money for some issues regarding him claiming his daughter in 2004 when it was her year I guess (even though she has claimed him every year since then, not abiding whatsoever by the divorce decree, however there is no remedy to that problem). So anyways~~~his balance after they took our whole refund is like $250, do you think they would subtract that from the stimulus and we would still get one? Or are we not going to get one? Also, we listed our bank account for direct deposit on our return, but then they took our refund...if we still do get a rebate, would they do the direct deposit since they have our bank info?

[emt103c]

They are not ALL going out on Monday, here is the schedule (order wise) The dates have just changed:

http://www.irs.gov/irs/article/0,,id=180250,00.html

[Marie]

i can deal with a week early :D

[Lachulagreeneyes]

OK, so if they will be depositing this monday tuesday and wednesday instead of on the 2nd, 9th, and 16th, that means everyone should have theres by direct deposit on wednesday right?

[Marie]

I'm not sure, I would love it to be this week but i'm erring on the same side and not expecting it until the 2nd (a week early for us).

How bout you guys let us know when you were supposed to get it and when you actually get it!

[Jenalo]

Im so mad we wont get one. my husband and I filled joint and he used his tax id #. ergh! :curse:

[Rinner]

I'm pretty annoyed that we won't be getting one. Somehow I think that is a little unfair! Does anyone agree? I've worked since I was 13 paying taxes, but just because I'm married to an Illegal it makes me unworthy of a rebate that everyone else will get. I don't care about the $600 for my husband, I understand that. I care about the $1200 that myself and children should be getting. I hate the government sometimes.:angry:

[sandra191406]

I was about to post a question about the rebate...but I guess you answered it. My husband and I filed jointly. I have a SSN but he obviously doesn't. He used an ITIN.....so I guess I won't be getting a rebate either because he doesn't have a SSN, is this right?? :cry:

oh well..... :waiting:

[milliesmom]

I'm so sorry for those of you that filed with an ITIN for your hubbies & won't be seeing this economic stimulus money. I know I'm going to use it for paying bills anyway, so I don't know how that's going to stimulate the economy... Money I already owed anyway...