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Freeze-Frame Radio -> Freeze-Frame Radio Lounge -> Economic Stimulus Check Info Here
Post Info TOPIC: Economic Stimulus Check Info Here
JD The Jazz Doctor


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Economic Stimulus Check Info Here
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Stimulus Payment Schedule for Tax Returns Processed by April 15

 

Economic stimulus payments will be issued according to the last two-digits of the main filer's Social Security number. People who use direct deposit also will be among the first to receive the payments starting May 2. Paper checks will be put in the mail starting May 16.

DIRECT DEPOSIT

Last two SSN digits: Payment will be transmitted:
 00 through 20  May 2
 21 through 75  May 9
 76 through 99  May 16

 

 

 

PAPER CHECK

 Last two SSN digits:  Payments will be mailed by:
 00 through 09  May 16
 10 through 18  May 23

 19 through 25

  May 30
 26 through 38  June 6
 39 through 51  June 13
 52 through 63  June 20
 64 through 75  June 27
 76 through 87  July 4
 88 through 99  July 11

 

 

 

 

 

 

 

People who file a return after April 15 will receive their economic stimulus payment, but probably about two weeks later than the schedule shows. A return must be filed by October 15 in order to receive a stimulus payment this year. See the online calculator for an estimate of the amount you will receive. 

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.



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Woo Hoo


The Chosen Woo

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I originally thought that this meant that we would get a smaller refund next year but I found this on the IRS site:
 
 

Q. Is my Stimulus Payment taxable?

 A. No. You will not owe tax on your payment when you file your 2008 federal income tax return. But you should keep a copy of the IRS letter you receive later this year listing the amount of your payment.

Q. If my Stimulus Payment is not going to affect my 2008 tax refund or increase the tax I owe next year, why is it I need to retain the letter that lists how much I received? 

A. In the event you do not qualify for the full amount on your 2007 return but you do on your 2008 return, you will need to have the letter as a record of the amount you previously received. [Added 4/11/08]

Q. Will the payment I receive in 2008 reduce my 2008 refund or increase the amount I owe for 2008?

A. No, the Stimulus Payment will not reduce your refund or increase the amount you owe when you file your 2008 return.



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