The Economic Stimulus Payment Schedule As Announced By The IRS

Published 3/18/08 (Modified 3/8/11)
By MoneyBlueBook

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.

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186 Responses to “The Economic Stimulus Payment Schedule As Announced By The IRS” 

  1. BEcky says:

    Am I allowed to receive the stimulus payment if we have filed a chapter 13 and the lawyer says he "thinks" we have to hand that over. IT WAS NOT IN OUR AGREEMENT WHEN WE FILED.

  2. Raymond says:

    Becky,

    I've been asked this particular bankruptcy question quite a bit, but unfortunately, I am unable to provide you a very concrete answer because it depends on how your Chapter 13 trustee views such windfall tax rebates that are not linked to the over withholding of taxes.

    Normal tax refunds are part of the bankruptcy estate and debtors must turn over future refunds to the Ch. 13 bankruptcy trustee. However, the stimulus rebate is not exactly in the nature of a true refund. It's a free government handout without the underlying overpayment of taxes.

    Since the answer may be subjectively based on the position held by your bankruptcy trustee, I suggest you ask your bankruptcy attorney to ask the trustee about his or her position on this matter. This may produce a better answer than having him just conjecture on what he "thinks" the trustee may want.

    My guess is that more likely than not, because you're already in Ch. 13, you should be able to keep at least part of your tax rebate. However, in the interest of the estate, the trustee will likely want to intercept your rebate check and review the amount case by case before releasing any amount to you.

  3. Jane says:

    I owed money on my taxes and filed electronically, selecting to mail a check on the 15th. Is there any way to have my stimuls check direct deposited?

  4. Raymond says:

    Jane,

    You should call the IRS and request a change from check payment to direct deposit ASAP, preferably before April 15....good luck!

    IRS Telephone Assistance for Individuals:
    Toll-Free, 1-800-829-1040
    Hours of Operation: Monday - Friday, 7:00 a.m. - 10:00 p.m. your local time (Alaska & Hawaii follow Pacific Time).

  5. Rachal says:

    I have been reading up on the checks we are all suppose to get starting in May. My husband and I filed our taxes back in Febuary. We used Turbo Tax. Our money was deposited into our account. I want to make sure that I am clear about the direct deposit info. Am I right, that since we used direct deposit through turbo tax that the IRS will be directly depositing into our account on the given dates for social security numbers?

  6. Raymond says:

    Rachal,

    You are correct on all accounts! Check the timetable above to see when you are scheduled to receive your tax rebate direct deposit.

  7. Lori says:

    I am divorced from my spouse and was required to file a 2007 tax return per divorce decree. I am planning on splitting the stimulous package with him, but I have been wondering if there is a way for him to intercept the return and have it rerouted to his own account--if he does that I'm not so sure me and my children will get any of the money. My return was direct deposit when I filed my taxes. Also is there a way to find out if he changed the address and has chose to get a paper check. Sorry about all of these questions this is just a big worry for me right now. I appreciate your time

  8. Raymond says:

    Lori,

    I presume you filed your tax return for yourself and claimed your children for the extra child rebates as well. If you selected the direct deposit option, then the money should go to your bank account. I can't imagine how your ex-husband would be able to change or reroute the address of your tax return, or alter your payment option to paper check. That would be criminal fraud.

    If you are worried, you can always try calling Uncle Sam at the IRS to double check. I'm sure they are swamped right now with frantic last minute filers, but they may be able to verify for you. Good luck

    IRS Telephone Assistance for Individuals:
    Toll-Free, 1-800-829-1040
    Hours of Operation: Monday - Friday, 7:00 a.m. - 10:00 p.m. your local time (Alaska & Hawaii follow Pacific Time).

  9. Linda says:

    If I owed $500 on my taxes and pais with AMEX... will I get a paper check? I have filed with direct deposit in prior years and I believe my routing information is on the tax return.

    Thanks, Linda

  10. Raymond says:

    Linda,

    Well unless you also happened to include your direct deposit bank information on this year's tax return, the IRS will mail you a paper check. Many people who filed using a software based or online tax preparation program that ended up owing tax may not have put their direct deposit information on their return. Those people will receive paper checks as well.

  11. Ashley says:

    I did my taxes direct deposit, but my prepayer took his fees out of my check so he did the r.t. or route transfer, will i still get mine direct deposit?

  12. Raymond says:

    Ashley,

    If your tax preparer listed bank direct deposit information on your tax return when he/she filed it, then yes, you are signed up for direct deposit. You probably should ask him or her to clarify however.

  13. Diana says:

    The last of March I received a notice from the IRS saying I owe back taxes for year 2006. I disagree with them and sent back the responce sheet explaning why. Will I still get the stimulus payment?

  14. Raymond says:

    Diana,

    The IRS will not start seizing your tax refunds to satisfy unpaid past tax debts until it has given you proper notice and the opportunity to response. Since the tax rebate is being treated like a tax refund, if you qualify for the tax rebate, you will likely receive it without having it intercepted.

  15. Donna says:

    On several different site it says if your filing status is single your stimulus rebate will be $300 and if your filing status is head of household it will be $600. Then again I find where it states if you are a tax payer and made over $3,000 your rebate will be $600 for single. Will you please clairify.

  16. Raymond says:

    Donna,

    The head of household filing is treated as a single individual eligible for one personal tax rebate plus rebates for any children. The minimum rebate for an individual with at least $3,000 in earned income is $300, but it can be as high as $600 depending upon how much that person owes in federal income tax and their adjusted gross income.

    Take a look at the IRS website's list of examples of how the Economic Stimulus Act of 2008 may affect taxpayers who are single, file as head of household, and have children.

    If you file as head of household with at least $3,000 of earned income and had federal income tax liability that exceeded $600, your individual rebate will be $600 (assuming your Adjusted Gross Income didn't phase you out). But if you filed as head of household, made at least $3,000 of earned income, but had no tax liability, your individual rebate would only be $300.

  17. DAVID T. WELCH says:

    Hello,

    I just want to make sure that my refund check will be direct deposited vice paper chack mailed. The last two digits of my SSN are "86" and I have regualr automatic deoposit through my employer, The Federal Government. I'm assuming that this Ecomic Stiumuls package will be direct deoposit on or about the 16th of May according to the above charts. However, I would aprpeciate a confirmation.

    Your prompt attention to this question would be greatly apprecited.
    Have a good day!!

    Thanks!

  18. Raymond says:

    David,

    Well to qualify and receive your economic stimulus payment, you will need to file your 2007 tax return. Whether you receive your stimulus payment via direct deposit or paper check will depend on the information provided on your tax return. The method in which you receive your regular salary checks from your employer, which happens to be the Federal Government, should have no bearing on the specifics of your stimulus payment. If you did not actually select direct deposit on your tax return, then you will likely receive your stimulus payment in paper check form.

  19. Donna says:

    My adjusted gross income was $13,064. After standard deductions and exemptions, my taxable income was $4,313. I paid tax of $433. Does this mean my rebate will be $433?

  20. Raymond says:

    Donna,

    If your federal income tax liability before the child tax credit was $433, then yes, that would be the amount of your anticipated tax rebate payment.

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