« Frustrated by Car... | Main | Opt Out of Catalog... »
 

Entry bubble Tax Rebates are Here (Sorta)!

By: Jake | May 05, 2008 | Category: Money

We're starting to see economic stimulus payments (or tax rebates) in our bank accounts! Or at least some of us are. If you want to know when you'll get it, the Internal Revenue Service has created a "where's my stimulus payment" webpage where you can enter some information and see when you should get your payment.

Animated Guy with a Tax CheckThe IRS is sending payments out in order of the last two digits of a taxpayer's social security number. So those of you who qualified for the payment, opted for direct deposit and whose SSN ends in 0-20 got rebates last week.

The IRS rebate schedule says that those of us with higher numbers at the end of our SSN will have to wait a few more weeks to get our direct deposit payments. Those who opted for paper checks will start to get checks in mid-May.

This SSN schedule assumes the IRS processed your tax return by April 15. If the IRS did not process your return by April 15, you should get your economic stimulus payment up to two weeks after you receive your refund (regardless of direct deposit or check it seems). If you did not expect to get a refund or you filed your return after April 15, it will take a minimum of six weeks after you file to receive your stimulus payment.

If you don't remember or don't know how much money you qualified to receive, you can use the IRS Economic Stimulus Payment Calculator to find out. Keep in mind you could receive less than the amount calculated here if you owe back taxes, child support, money for student loans and other reasons. Around the same time you get your payment, the IRS will send you a notice to break down how it was calculated. Keep this statement for your records.

If you did not file your 2007 income tax or an extension, you can still file your federal income tax by October 15, 2008 to see if you qualify for an economic stimulus payment. The sooner you file though, the sooner you'll get results.

If you have other questions call the IRS or contact your local IRS office.  

| Comments [15] | envelope Email This Entry | Tags: economic  jake  money  payment  rebates  stimulus  tax 

Comments:

We welcome your comments and expect that our conversation will follow the general rules of respectful civil discourse. This is a moderated blog, and we will only post comments from bloggers over 13 years of age that relate to topics on Gov Gab: Your U.S. Government Blog. We will review comments for posting within one business day. You are fully responsible for everything that you submit in your comments, and all posted comments are in the public domain. We do not discriminate against any views, but we reserve the right not to post comments.


I don't understand why working college students claimed by parent, but work, cannot receive stimulis rebate. They would be more likely to spend the money and stimulate the economy than the parent trying to pay the bills!

Posted by delashmitc on May 05, 2008 at 09:50 AM EDT #

Great Post. I work for a company that manages and tracks gift cards, we blogged about this issue on savvywallet.com. There are many questions as to how to spend your stimulus. There are retailers who are offering 10% bonuses in gift cards in exchange for your checks. Be careful. Consider this: $100 was spent in gift cards last year, and $8B was lost and unclaimed. My advice? Save it, put it towards debt and your IRA. As for the college student? Claim yourself, and get the cash!

Posted by Austin Chu on May 05, 2008 at 11:58 AM EDT #

I would like to know the total amount paid out to individuals versus businesses, who is getting the lions share? The only thing I heard is that the toatl is something like 150 billion, but nothing about how it is divided.

Posted by Citizen Jmaximus on May 05, 2008 at 04:35 PM EDT #

I am appalled and distressed at the fact that attending our colleges here in the United States of America are adolescent aged foreigners, mostly of Asian origin, likely Chinese. Some of which are younger even than 15 years of age. To allow such adolescent aged individuals to be in an environment and exposed to a majority of adult aged Americans is not using good sense. It is only compounding the serious problem of illegal adult interaction with adolescents. In a college this makes the problem even worse.

Posted by Freedom on May 05, 2008 at 08:32 PM EDT #

THIS IS STRICTLY A BUNCH OF HOG WASH, FOR LACK OF BETTER WORDS, IM THE ONE WHO SACRIFICED HIMSELF FOR GOOD OLD USA, AND JUST BECAUSE IM MARRIED TO A NON AMERICAN I DONT DESERVE CREDIT FOR THE SO CALLED ECONOMIC STIMULUS, I AGREE SINCE MY WIFE DOES NOT HAVE A SS NR. NOT TO RECEIVE BENEFIT, BUT IM THE ONE WHO HAVE EARNED IT. WHY SHOULD I BE PENALIZED FOR IT.? HELL I LEFT THE COUNTRY BECAUSE I COULD NOT MAKE IT ON MY PENSION ALONE, BOY THIS IS CERTAINLY A GOOD WAY TO SHOW HOW THE COUNTRY SHOWS ITS GRATITUDE. I KNOW FOR WHOM IM GOING TO VOTE... FOR NONE

Posted by us army ret, jibarito FM SAN LORENZO MAD AS HELL on May 06, 2008 at 12:19 PM EDT #

We have filed and received our refund about 2 months ago. We have yet to see the notice that was supposed to come. We fall into the guidelines of the economic stimulus but what happens if you don't get the notice and can't find a phone number to talk with a live person to ask?

Posted by Janet in GA on May 07, 2008 at 09:12 AM EDT #

Sorry I haven't been able to respond to your comments recently. I've actually been involved in this emergency exercise and my blackberry isn't letting me respond to comments.

Austin, Thanks for your advice on what to do with the money. I plan to pay off debts and save it. I don't know if college students who know their parents are claiming them as dependents should be applying for the rebate. THe IRS will most likely catch it and the student won't get anything. If student does get something the IRS will catch it later and you'll have to pay the money back. If I were a college student, I'd just ask my parents to give me a cut of the rebate. :)

Posted by Jake on May 07, 2008 at 12:24 PM EDT #

Citzen J,

I am looking for that information about what cut Small Business's get. I'm going to email IRS and see what they tell me.

Posted by Jake on May 07, 2008 at 12:29 PM EDT #

Army ret Jibarito,

Why don't you qualify for a rebate? I couldn't find any information for people living overseas, but I did find info on people recieving a VA pension.
http://www.irs.gov/newsroom/article/0,,id=179203,00.html
Contact the IRS for more info. Here is a link to their international offices:
http://www.irs.gov/localcontacts/article/0,,id=101292,00.html

Posted by Jake on May 07, 2008 at 12:37 PM EDT #

Janet,

The IRS just set up an online "Where's my stimulus payment" tracker you can check out at this website:
https://sa2.www4.irs.gov/irfof/IRServlet?app=IRACTC

If that doesn't work. You can find contact information to your local IRS office here. They should answer the phone there and if not you can always go to the office in person.
http://www.irs.gov/localcontacts/index.html

Posted by Jake on May 07, 2008 at 12:48 PM EDT #

My wife and I just received our economic stimulus tax refund in the amount of $1,200. At the same time, I received my quarterly real estate tax assessment in the amount of $912.13.
Included with my tax assessment was the semi-annual stormwater fee in the amount of $38.10. I also just received my personal property tax assessment for the year, in the amount of $339.40. The grand total of oll those is $1,289.63.
Its so nice to receive an "economic stimulus tax refund," only to pay more taxes. Kinda depressing.

Posted by Joe on May 07, 2008 at 03:30 PM EDT #

COLLEGE STUDENTS: Don't get a rebate and neither do your parents. IT's a bunch of crap. In order for the parent to get it, the child has to be under 17, so you both lose out!

Posted by MarkMc on May 09, 2008 at 10:02 AM EDT #

MY CHECK WAS GARNISHED TO TWO COMPANIES UTILIZED FOR SERVICES IN THE PAST. I WAS SHOCKED SINCE I HAD PAYMENT ARRANGEMENT AND WAS GOINT TO USE THE CHECK TO HELP ME MOVE ANYWAY I JUST LET I GO ATLEAST MY BILLS GOT PAID WITH IT...

Posted by WHERE THE CHECK? on May 09, 2008 at 12:41 PM EDT #

Joe and Where the check,

I hear ya. It's not so good to get this rebate and then find that pieces have been taken out or you owe more to other people.

Citizen J, I'm still trying to figure out how much went to businesses and how much went to people like yourself.

Posted by Jake on May 09, 2008 at 01:25 PM EDT #


I heard that if people dont recieve their check in May that they would see it by July 4th. I think its because of how they're sending them out according to filing dates, and the social security numbers, and few other factors. Either way that's still pretty close together. So people shouldn't worry about waiting 6 to 8 months since it seems pretty conistent that people who claimed to have called or talked about it, are all saying with two weeks to 4 weeks from the start of it all.

Frank
<a href="http://www.ezprintsolutions.com">Full Color Printing </a>

Posted by frank on May 09, 2008 at 03:17 PM EDT #

Post a Comment:
 
(Your screenname will appear with your message)
 
(Limit 2,000 characters; HTML syntax not allowed)
 

Please type 58 into the following box

Are you human? We do this because it is possible for search engines and other tools to submit this form, either accidentally or on purpose, which can cause unnecessary server traffic.