The Economic Stimulus Payment Schedule As Announced By The IRS
Published 3/18/08 (Modified 3/8/11)
After much online speculation and rampant rumors about the economic stimulus payment date, the Internal Revenue Service (IRS) has finally cleared up the confusion and released the official economic stimulus tax rebate payment schedule. You can read the IRS timetable announcement on its website (view IRS news release).
The IRS has announced that it will begin sending more than 130 million economic stimulus tax rebate payments starting May 2, 2008. Those who chose to receive their 2007 tax refund payments via direct deposit will get priority in receiving their stimulus tax rebates. Those who chose to receive their tax refund payments via regular postal service will receive their tax rebate checks in mid May, after the initial wave of tax rebate payments have been sent to those who chose the quicker direct deposit option.
Tax Rebate Receiving Order Will be Based On Social Security Number
The order that the tax rebate checks will be sent out will be according to the last 2 digits of the Social Security Number (SSN) used when you filed your federal tax return. Please examine the stimulus payment chart below to determine when you will be receiving your tax rebate. As the IRS noted on its announcement, because the order will be based on the numerical order of Social Security Numbers rather than by name or household, there is a high possibility that neighbors, family members, and friends may not receive their tax rebate checks at the same time.
The Official Economic Stimulus Tax Rebate Payment Schedule - (for Federal Tax Returns Received and Processed by April 15, 2008):
|Direct Deposit Option:|
|If the last two digits of your Social Security Number are:||Your economic stimulus payment deposit should be sent to your bank account by:|
|00 - 20||May 2|
|21 - 75||May 9|
|76 - 99||May 16|
|Paper Check Option:|
|If the last two digits of your Social Security Number are:||Your check should be in the mail by:|
|00 - 09||May 16|
|10 - 18||May 23|
|19 - 25||May 30|
|26 - 38||June 6|
|39 - 51||June 13|
|52 - 63||June 20|
|64 - 75||June 27|
|76 - 87||July 4|
|88 - 99||July 11|
How To Make Sure You Get Your Tax Rebate Check
If you want to get your tax rebate check sooner, you should make sure to elect the direct deposit option if you haven't already done so. Secondly, you should make sure you file your 2007 federal tax return by the April 15, 2008 deadline. If for whatever reason your tax return is filed after April 15, you should receive your economic stimulus payment about two weeks after receiving your tax refund. For those requesting filing extensions, if you want to receive your tax rebate by the end of this year, you must file your tax return by October 15, 2008. To accommodate people whose tax returns are processed after April 15, the IRS has indicated that it will continue sending weekly payments even after the end of the above schedule.
As I indicated in my 2008 Tax Stimulus Rebate commentary article, if you are already in bankruptcy or have tax liens for delinquent or outstanding debts such as - unpaid student loans, child support, or tax obligations, all or part of your economic stimulus payment may be withheld or intercepted. The IRS has indicated that it will send a letter to the taxpayer explaining the tax rebate offset, if any.
How Much Will My Economic Stimulus Payment Check Be?
Explanations and detailed answers to your tax rebate questions can be obtained by viewing the official IRS publications and announcements on the matter. Here are some links to official IRS answers to tax rebate questions, where most of the commonly asked questions are addressed. The more complicated and issue-filled tax rebate questions relating to Chapter 7 and Chapter 13 bankruptcy filings have been winding up as comments on my tax rebate article. I will continue answering them to the best of my ability based on my legal experience and knowledge on the matter. However, while my comments may be construed as general background information, they should not be blindly followed as definitive legal advice. Remember to always perform your own due diligence and research.