The IRS announced today that they will send out economic stimulus payments starting this Monday, April 28th. This is almost a week earlier than the originally planned date of May 2nd. The reason given for the early send off? To stimulate the economy.
Actually, that is the whole reason for the stimulus to begin with, but I guess they think 4 days will make a huge difference on the economy. It might make a difference for some people, but I’m not so sure it will turn the tide for our economy.
The IRS will be able to distribute the stimulus rebate checks earlier than previously scheduled due to a new computer program they have in place.
According to CNN, “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 original schedule for the economic stimulus rebate check release:
The rebates will be sent out according to the last to digits of the tax filers Social Security Number (these dates assume you filed your taxes by the April 15th deadline).
If your tax return was filed after the April 15 deadline, your rebate checks may be delayed until approximately two weeks after you receive your refund (if you receive a refund). Since it normally takes the IRS about 2 weeks to process most tax returns, it should take about a month after you file to receive your rebate check.
What is the new rebate schedule?
Logic would dictate that the rest of the dates would be moved up 4-5 days, but the official release has not be announced. Because the IRS has the new computer system in place, it may be possible that they are sent out earlier than anticipated.
For more information, check out the Economic Stimulus Package Frequently Asked Questions.
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I heard again on the radio that everyone who filed a 1040EX before april 15th ( I did mine first week in March should have their rebates by May 2nd. The news anchor stated that all DD will be finished by May 2nd. Does anyone know if this is true? I keep hearing different things from the news, websites, etc
I have heard the same thing(that all DD will be in by May 2nd). I would like to know if this true or not.
I did my tax refund through HRBlock. They filed electronically using a 1040ez and i got my refund via direct deposit. Does that mean I will get my stimulas packave via direct deposit
my sister got her’s last friday, has 2 kids and a husband, did not file 1040ez and last 2 ss is 02, so the people who are saying only ez filers are getting there’s first is not correct.
what is the last 2 digits of ss?
Are you saying that you went through turbo tax and had your fees deducted by turbo tax, and got the money deposited into sbbt, and than santa barbara bank deposited the money into your bank account? We were all told that if we had the fees taken out of our return and went through sbbt, that is a temporary account and it won’t be deposited into our bank information that we provided. You stated that you went through turbo tax, and had you fees taken out, and you received your direct deposit for you stimulus…
to GLB the question above was to GLB who said they used Turbo tax, and had their fees deducted from their refund but received a direct deposit…can you clarify that as to whether you went throught Santa barbra bank, and they deposited the money into your account? we were told if we had the fees deducted and sbbt opened a temporary account for us and than deposited our money into our accounts that we would be getting paper checks, not direct deposit for our stimulus checks.????????????????????????? Confused…
hey everybody the number to check the status of your rebate is 1.800.829.1040, listen until you hear “to check your rebate status” then put in your filing status and then number of exemptions and S.S. number. I just called and it said no information can given at this time for my rebate. If it says that, it means it has not been processed as of yet just like when we called to check on tax returns it said that until it was actually processed, then it changed. Hope this helps
Here is the IRS web page posted today. It provides the “Where’s My Stimulus Payment” as well as the scedule. As shown on the top of the Direct Deposit schedule, “Payments will be transmitted no later than:” and you can find the date your payment will be sent by based on the last two of your SSN. Hope this helps.
http://www.irs.gov/newsroom/article/0,,id=177937,00.html
People Please! Why all this griping about not getting the money when expected…when it’s FREE money you had no right to expect or count on in the first place? Sure, we all have bills to pay, but if we weren’t getting this money, we’d manage somehow, right? So stop panicking, keep checking your bank account and thank God for the extra bounty when it does show in your account.
I looked this morning in acct. not refund last ss is o4 still nothing!!!!!!!!!!!!!!!!!!!!!!!!
I looked this morning in acct. no refund last ss is o4 still nothing!!!!!!!!!!!!!!!!!!!!!!!! MAY 2nd
Reese, There is a new rebate tracker on the IRS site. You can read more about it and other information here: http://cashmoneylife.com/2008/05/02/where-is-my-economic-stimulus-rebate-payment/
I had my income taxes direct deposited to my green dot prepaid card. My last 2 are 96. When will I recieve my rebate and will it be on my card or a paper check?
I called the IRS yesterday because the economic stimulus info on their website was telling me I couldn’t be id’d. She told me that it is not working on their website and is not working for the IRS either. They have been bombarded with phone calls. I did get some info that may be helpful to some:
1) If you owe money to the IRS, your check will be taken by them
2) If you are being audited, your check will be put on hold pending how much money you owe them
3) The extra money for dependents is only good if you have a child claimed on taxes under 17. Even if they are still in high school and are over 17, you do not get the extra 300.00
4) They can put your SSN into their computer system and tell you how much you are getting, but they can’t give you an exact date. My last two numbers are 28 and the woman told me I will have my money next week.
MICHELLE
I copied that info from another site, i did not post it .. i have not received my check … but if she went thru turbo tax and had money deducted from check it was santa barbara cuz that who turbo tax uses
MICHELLE
I copied that info from another site, i did not post it .. i have not received my check … but if she went thru turbo tax and had money deducted from Refund it was santa barbara cuz that who turbo tax uses
this is cut and paste from the turbo tax site:
what if I paid to file my 2007 taxes with my refund money using Santa Barbara Bank & Trust?
Even if you have received or will receive your tax refund by direct deposit to your bank account, the IRS will not do the same for your tax rebate in this instance. It will mail your rebate instead.
In its preparations for issuing rebates, the IRS decided that taxpayers who entered into financial transactions with third parties, such as Santa Barbara Bank & Trust (the taxpayer and TurboTax being the first two parties), would receive their rebates by mail.
This applies only to TurboTax customers who used the “refund transfer” or RT service when filing their 2007 tax returns. The service lets you pay for your tax preparation and/or e-filing from your refund proceeds, for an additional fee, under an agreement with the bank. This allows customers to pay using their refunds, rather than credit cards.
This IRS decision also applies to taxpayers who used “refund anticipation loans” or RALs (loans made to tax filers against their expected refunds) on their 2007 returns. TurboTax does not offer RALs.
I was expecting a direct deposit but i guess i get a paper check.
I really hope my stimulous payment will be deposited today, as I could really use the money.
I am married, filed jointly with my husband and have one child. I mailed our 1040 on April 15. I owed money and my check was IMMEDIATELY deducted out of my account (within a week). I did enter my account information on our form specifically to get our stimulous money early. Because our payment has already been cleared, I assume that our taxes have been processed.
I should hope the government can deposit as quickly as they withdrawl. Sadly, from reading the above posts, it seems highly unlikely.
I am a stay at home mom, I do not have any income for myself. My husband and I filed married joint with two kids. According to the IRS calculator, we are suppose to receive $1800. So, just because I don’t work, it didn’t change the status of the $1200 for married couples.
My refund was in my account this morning…yeah! Direct deposit, turbo tax, last two ssn 00.
here is the number for the rebate hotline. 1-866-234-2942
My numbers are 23…so I guess I will get mine on May 9th as scheduled….Not a few days early either….
our last two are 31 maybe that means we will get ours today also, but i doubt it.
I just called IRS as our SS ends in 18 and we have not gotten our deposit; yet we did get our initial return directly deposited. Turns out that if you used Turbo Tax to file this year there is a glitch in their system which erases your bank info, therefore anyone using Turbo Tax will be getting paper checks instead.
I was told by IRS this morning that most people who used Turbo Tax won’t be getting their Stimulus directly deposited. They have a glitch which only allowed for one direct deposit.
now waiting for paper check.
I was told by the IRS that if I direct deposit in Turbo Tax, the Stimulus payment is direct deposit. She verified it by looking up my SSN on her computer.
ssn 21. we owe. we did ours taxact.com direct dep. i called today and she was not too enthusiastic about me calling (but who would in the case). all she said was that what we owe will be deducted and to expect the remainder by May 23rd. not much help, but i didnt expect much.
Cathy, I used Turbo Tax, direct deposit (paid fees directly with a CC) and I received my rebate today in my bank account.
what time does the IRS send out the direct deposits for today? OR will they be sending them at all day today?
The IRS really shouldn’t have announced this new date. People are waiting for money and not getting it. My ssn is 14 and I still haven’t gotten anything.
my last ss# are 18 and i have just checked my bank acct. and NOTHING!!!!! DOSE ANYONE ELSE HAVE THIS PROBLEM??????
I called the IRS and they said that we should be checking our accounts up until midnight. If it isn’t received, call the IRS on May 7th. All this for a few extra dollars. I don’t consider this free money because I work all year just to get a refund, therefore it is well earned and deserved.
I used Turbo tax, and had direct deposit, and my refund was in my account this morning. Heard nothing about glitch with Turbo Tax.
My last two ssn is 00, and I just got mine this morning. Never got it early like they had stated, but I’m still glad I got it. It seems like they have some issues to work out if they do this again.
I used turbo tax and went through santa barbara bank to pay for my tax fees, my last #’s are 06 and i have not recieved any money yet. everyone i know who used turbo tax has not recieved theres either!!
Theresa you said you used turbo tax and had direct deposit and got your rebate this morning, did you pay for your fees with turbo tax or did you use a Credit card and one more question, did you use the free file? Some are saying they used turbo tax and got the rebates and others say no. I know with the free file you dont have to pay to do the taxes.The IRS should come out and tell everyone in detail what the rules are so we can stop waiting if needed.
This is NOT true to fact. I actually read an article that stated the same info and then as I kept researching, it only appears that things are moving ahead ONE week earlier and NOT all direct deposits will be completed on or before Friday.
Sorry – I really wish that was the case because my last two digits are 81.
theresa did you pay for your taxes to file on turbo tax or did you do the free file?
Lorne, I’m not sure what time. If you were scheduled to receive your rebate in the first batch, but have not yet received it, please be patient. Keep in mind that the payment is scheduled to be received by the date listed, but that it may arrive in the late afternoon and take additional time before it registers with your bank. Depending on your bank’s policies it may take several hours, or even a day or two before it clears.
What if I paid to file my 2007 taxes with my refund money using Santa Barbara Bank & Trust?
Even if you have received or will receive your tax refund by direct deposit to your bank account, the IRS will not do the same for your tax rebate in this instance. It will mail your rebate instead.
In its preparations for issuing rebates, the IRS decided that taxpayers who entered into financial transactions with third parties, such as Santa Barbara Bank & Trust (the taxpayer and TurboTax being the first two parties), would receive their rebates by mail.
This applies only to TurboTax customers who used the “refund transfer” or RT service when filing their 2007 tax returns. The service lets you pay for your tax preparation and/or e-filing from your refund proceeds, for an additional fee, under an agreement with the bank. This allows customers to pay using their refunds, rather than credit cards.
This IRS decision also applies to taxpayers who used “refund anticipation loans” or RALs (loans made to tax filers against their expected refunds) on their 2007 returns. TurboTax does not offer RALs.
Got this from turbo tax!!!
AU, You do not need to receive a letter to receive the rebate – the letter is only a reminder frm the government. If the filer qualifies for the rebate, it will be sent automatically by the IRS.
I was expecting it by May 2nd ( when I heard it on the news) because I have bills to pay. now I am going to figure out how to keep my power on. The government announced this stimulus package, yet I am still unclear how a few extra dollars in our pocket is going to help the economy. All it will do is help pay a bill or two. We work all year for this money and the government should have released it all at the same time, instead of spreading it out over a period of a few weeks. Its the least they could do for all the taxes we have to pay.
Hope, Yes, you should receive the rebate via the mail. Yes, it is true that the individual receives $600 plus $300/child, provided income levels and the other criteria are met.
If you don’t owe the IRS any money, you should receive the rebate, but if your old tax return is still open, it may be delayed. I wish you the best!
Robin,
The $300 is only for dependents under the age of 17. Sorry.
let me ask a question, my daughter just turned 17 at the end of april, I thought they meant under 17 for the file year of 2007?
Correction, NOT everyone will receive theirs by today. As stated on the IRS schedule I post below, depending on you SSN, Economic Stimulus Payments will be “TRANSMITTED NO LATER THAN” not “RECEIVED” by the date shown.
The IRS guarantees “Transmitting” the Stimulus payment by today only for those with SSN ending with 00-20. ALL Direct Deposits will be “Transmitted” by May 16. Even if your SSN does end in todays range, does not mean you will get it today. Your bank may receive the transmission today but depending on how they handle direct deposits, and when they recive it, it still may take a few days to show in your account. The IRS says if you have not recieved it within 5 days of expecting it, then give them a call. Most banks will even say on their signs that “Deposits may not be available for immediate withdrawl”. And thats with you actually handing them the cash!!!
My Source
http://www.irs.gov/irs/article/0,,id=180250,00.html
As for everyone stressing, there really is no point. We all have bills. Worrying about when we all get this money isn’t going to make this money get here any faster. Nor is everyone calling the IRS about it. There is obviously different info coming from the IRS in regards to the same questions. 2 people get 2 differents answers on the same question. That may be the fault of the IRS not giving their employees the right info, but that still will not change when it comes. Just look at the schedule. If you don’t receive it within 5 days of the date it says it should be transmitted by, then call them. If they say you are getting a check. Why go off on them when there is nothing you or they can do to change it.
You can find out why, so that next year, you don’t make the same mistakes. Examples of what to do to receive you ESP via Direct Deposit would be not getting a RAL, not having your fees taken out of products like TurboTax, H&R Block and not owing the IRS, Student loans, Child Support, etc. I use the FREE efile version of TaxAct and have for years. No fees. Never been wrong. And I know it is direct deposited into MY account. Most states have FREE Efile also. It will not work through TaxAct without paying, but it really isn’t that much more going to your states website and using their FREE efile. I do the taxes for some of my family and they pay NOTHING to any of those products and get their money in less than a week.
And people need quit being so lazy. People need to READ. Most of the questions on here have already been asked many times above, answered above or in the FAQ. Asking the same questions over and over will only give you the same answers everyone else has already received. If people see that others got differet answers and something isn’t clear, then logic would say that that answer is unknown and to either do the research yourself or find a differnt source. If you get less than expected, nobody here is going to know EXACTLY why. We can make assumtions based on the info you give, but you may leave info out that even you don’t know that may explain it. You may have a penalty fee or owed interest. The only ones that can answer that question is the IRS!
READ ALL POSTS BEFORE ASKING MORE QUESTIONS!!
Darleen,
Yes, the end of 2007. You should be fine.
Ron,
Well said.
In response to RON:
Way to go!!! :::)))
YOU TOOK THE WORDS RIGHT OUT OF MY MOUTH!!!
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