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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When filing with most paid products like TaxAct, TurboTax and even H&R Block, if you elected Direct Deposit and you are unsure if it will go to the temorary account from that software or your own account, there are a few main ways to check. One is to look at your printed return from your tax product. It should show your Direct Deposit info at the bottom of your return. If it doesn’t, then your Tax product may have used a tempory account for your return. Another is to check your bank statement from when you received your TAX Refund. I filed with the free TaxAct and my statement shows “US TREASURY 220 TAX REFUND”. So I know my refund came directly from the IRS to my account and not from some other “temporary account”. If your statement is not available, you can also talk to an IRS rep and see what account info they have on file for your Direct Deposit. If it is not your account, then your Tax product may have used their own “Temporary account”, then transferred it to yours.
In regards to TJ question.
Most prepaid cards like Green Dot back your card with a “Checking Account”. When you provide this account info to employers, IRS, you almost always select the account type as “checking”. As far as Direct Deposits go, they act just like normal checking accounts. Only without the checks and full priviledges. I have used Green Dot, Money Network, and Netspend. My Tax Refund was actually refunded to me using my Money Network card so I believe that as long as their are no other circumstances to prevent it, and the IRS used your Green Dot account info on your tax return, then it should go there. Check your Green Dot account info and look for “US TREASURY 220 TAX REFUND”. Then you know they have that account info on file.
I have never heard of a bank not making cash deposited available for withdrawal immediately. Now where it’s available may be limited, i.e., you may not have it available for debit card purchases, etc. but you can withdraw from the bank’s ATM. However, not making it available at all, isn’t something I have ever come across. I’m an accountant and my first job was at the corporate offices of a bank.
I called the IRS to update my address and phone number in the system as well as to getting some detail on the stimulus. I think that some may feel very mislead. I filed my return through TAXACT and my return was direct deposited into my checking account. Per the IRS although my deposit was filed electronically and was set up for direct deposit I will be getting a paper check in the mail and with the last of my ss being 55 it wont be until june 20th. I guess I just have a little confusion with the particular software. Per the IRS rep when you are using those services the refund is sent back to the processor then sent to the account of choice.
But I find it truly funny with some of the notes on here today some have filed through other software programs turbotax, as one of them and a few say they receieved a direct deposit refund this week.
there are to many stories and situations on here you don’t if they are all true.
All i know is that I can wait for a while. cause I dont have the 900.00 now and i sure wont have it after I get.. The rent and utilities will
Ok, now I am really confused. I used HR Block for my taxes. They took their portion out of my refund.I had my refund DD into my bank account. Does that mean I am going to get a paper check? If so that sucks cause my ssn ends in 91
Ugh, I was gone all day, and I come back to the same messages. Does anyone know when I will get this, if I have a turtle can I claim him for the refund, If I only made money by selling my gnomes at the flea market will I get a check, if I direct deposited my refund into my grandmother’s account will a tiny man in a circus outfit deliver my rebate in cash? I like what Rob Said. Read everything, then scroll down and ask a question. Better yet, use the wisdom of the internet, and answer your own question, and post the answer. I haven’t gotten my rebate yet, and probably wont until June 20th because I used HR Block. It’s just as well, I would have used all that money right away on new gnomes for my turtle habitat…
Sorry guys didnt mean to post twice
Riddle me this batman!!
I files electronicly in feb. I recieved my refund DD at the end of feb. The DD came from
“US TREASURY 220 TAX REFUND”. My SSN ends in 12 and I qualify for a stimulas package per the IRS calculator. I did not file with H & R Block or any other advance service. I have a CPA that files for me. I do not have any offsets or back taxes that would effect me, again per the IRS. I checked with my bank (US Bank) and they said there is no holds on IRS stimulas deposits. I believe I have covered everything, and still no payment. I called the IRS they say they show nothing, but that the Department of Treasury is the entity that is sending it to them. (202-874-6740 not an automated number) they say they show nothing as well. No explanation no reason nothing just we show nothing. If someone has answers please let me know.
thanks,
Keith
Me too! I used turbotax/direct deposit and haven’t gotten mine yet either. My last 2 of my SS# is 01.
The IRS website is now telling me I won’t get mine until May 9th. I wish they would get their you know what together. I am really bummed now.
i called the IRS just now. since I used HRBLOCK and they took the money out of my refund they will mail me a check. Due to my last 2 of my ssn ending in 91 it wont be mailed in 7/11
At least they tell you something. they tell me that they do not know what is going on with my refund
At least they tell you something. All I get is I Don’t Know
Why is everyone saying that if you did your taxes on turbo tax and had your refund direct deposited that you will not recieve your stimulus payment the same way? This is false when you file on turba tax it asks it you want to recieve your stimulus check the same way if you didnt see this option try opening turba tax baxk up and there will be an option to do so. Im still confused why everyone is so excited about this check and not worried about the gas prices rising more and more does everyone relize when gas prices go up everything does and gas prices rising also effects companies we work for and will enevitably put business out of business when will the people of this world stop walking around like robots and stand up i think us as americans need to stop letting our corrupt government destroy us. Has any ever noticed that the people n charge are old and close to their death beds and dont care what happens in the future because they wont have to deal with it cuz they will be gone. How can they say that your vote counts but yet in the end its up to the super delegates who make the final decision and these super delegates are going to vote for whomever benefits them the most not who is going to benefit our country. you hear talk about chinas human rights not being all that great but i promise you the chinese people are takin care of better than we are. The us slogan is land of the free home of the brave ha in a hundred years that slogan should be land of the naive home of the thief money corrupts everything. there are to many chiefs in our country making decisions i think people should be able to vote on bills rather thena house full of bickering politicians whom are affected by anything because when they retire they still make what they are making before retirement never having to worry. The more it goes on the more this country looks like a joke and we wonder why people in other countries dislike americans. Its time to think my friends.
darleen if she just turned 17 she was under 17 in 2007 she is considered a dependant
Debbie…I didn’t have any fees. I used the free file. Hope this helps.
http://cashmoneylife.com/2008/05/02/where-is-my-economic-stimulus-rebate-payment/
this works.. it won’t tell you anything if your payment wasn’t processed yet..
i’ll let you know on the 6th!
Jay, The payment really depends on your “tax liability” for 2007 (the tax on your taxable income). The $600 and $1200 figures are maximums.
ok got some news for everyone who like me was wondering when will i get my check? there are different time frames on all these web sites even the IRS. I went to the deparment of treasury site it says starting the 9th they will go out in the mail..i trust there time schedule over all the others since there the ones sending them out..hope this helps!!
http://www.ustreas.gov/news/index1.html
dont trust the payment calculator on the irs website. it said i would be getting bacak 600.00 but when i called the irs they told me only 300
No, qualifying children had to be 17 or under by December 31, 2007 to get the additional $300.
Hi, Im wonderig if anyone who thought they were to get their rebate on May 2, and did not, checked the IRS website about when you might receive. I did and it said they had no info on ours it could take two weeks. our social ends in 15. How long should one wait before trying to call someone? Any ideas?
Hi lenore yea the same thing with me and I was told that because of santa barbara banking system I will get a mail check which would be here by may 9 because of my ss# o4.
We did turbotax online. We had to pay this year. I paid for my e-filing with a credit card and mailed in a check for our tax payment.
Turbotax – i remember it stated that we qualified for the stimulus payment. It must of asked for my direct deposit info at that time, because when i looked on the hard copies that i printed for our records, it shows my bank info along with the amount i owed.
So, based on all the comments i just read, i’m hoping some of you were misinformed, because we are due for our deposit 5/9, i’m hoping to get ours as much as everyone else.
If its only one direct deposit per file, we are good, because we had to pay anyhow.
The bank info is on the form because turbotax asked for it.
If we get ours directly deposited by next Sat a.m. i’ll write back. I just can’t see why turbotax would ask for our bank info especially if we owed, unless they were on the ball and knew that our stimulus payment would be deposited vs paper check.
I’ll just have to wait and see
To Ron:
Thank you so much for the information about where to look to be sure where your refund came from. I did think to look at my bank statement to see if I paid with a CC (which I did) but never thought about look to see where my deposit came from! I am 93 and was concerned as well when I saw all of the discussion about third party sites as I use TacAct. Thank you for your diligence.
My brother called me and said that his was in his account saturday morning showing pending, his last 2 ss is 59, my husbands is 47, I’m thinking it might depend on your bank when they want to post it. He also though he was getting 600 but got 300. Just wanted to let you guys know something.
My husband and I have one child age 16,we all live together. Does this mean our stimulus check should be $1,500? And is it true that it COULD be sent sooner than when it says on the s.s.# chart?
Miss B ~
It doesn’t mean it SHOULD be, it means it COULD be $1500, that would be the maximum for your family but it COULD be lower depending on your tax liability. We have a family of 4, husband/wife filing jointly and 2 qualifying children but ours is only $1200, not the max $1800.
As far as when, it COULD be done sooner but at this point no one really knows.
hi. my husband and i flied our taxes with liberity tax and got direct deposit. would we get our rebate like it said for our ss number which is may 5th.?
My personal tax preparer told me that payment would be the same as how my tax refund was deposited, it went to his account 1st had deductions made then routed to mine. He said that this year he used a different bank in which is not a temporary account, so everyone who had taxes prepared by him and the deductions automatically deducted from his account and then routed direct deposit to theirs we will receive it the same way. It will go to his bank but no fees deducted this time and then to mine account. Because of the way he has it set up this year.
Lenore,
If the website gave you an estimate of two weeks, you might just wait that long and check again. Or you could check sooner, because the information may be updated more quickly. At this point, I’m not sure anyone knows, and patience is your best bet. I hope it works out well.
linda,
I can’t tell you exactly when you will receive your rebate. I recommend using the the stimulus payment tracker. However, the tracker won’t work until after the date you were supposed to receive your rebate, so be sure to wait until the scheduled sate or later.
Miss B.,
The rebate could be that much, but it could also be less depending on income factors and other issues. I recommend using the official stimulus rebate calculator, or contacting the IRS.
As for getting it early, it could happen, but I wouldn’t count on it. There are still a lot of people who are reporting getting it late when they should have received it this past week. Good luck.
I DONT REMBER IF I SELECTED DIRECT DEPOSIT OR NOT HOW DO I GO ABOUT FINDING OUT
Ron,
You will need to look at your tax return and if you requested a refund or paid you tax bill via direct deposit, you will likely receive your rebate via direct deposit. Otherwise, you will receive it by mail.
There are some other issues that could cause you to receive a rebate via the mail as well, namely if you chose to receive your rebate via a 3rd party, or in the form of a prepaid debt card, or something similar.
RON: Check on your tax return; most of the time it will show on your return if you gave a voided check to the tax preparer.
Also if you read on the IRS website it tells you that if you’ve done a return via Jackson & Hewitt, HR Block, etc. your money will be mailed not direct deposited even though you may have selected direct deposit w/the preparer.
Two weeks ago I checked the payment calculator and it estimated my check to be $1,800.00. I put the same information in today and the estimate is now $1,200.00. Has there been a change in the past two weeks that we’re not being notified of?
i had my rebate check deposited to my checking account by direct deposit back in feb. when will my stimulus rebate come my last 2 digits are 51 of my ssn
My last two digits are 13, and now its May 5th. I filed my return with direct deposit in Febuary, and recieved my direct deposit for that just two weeks after. However, I have not recieved my direct deposit of this check. I do meet the income levels, and I don’t owe any back taxes….so where is my money George???
Jeff,
Try using the official stimulus payment tracker on the IRS site. That should give you some info regarding your rebate. If that doesn’t work, I recommend contacting the IRS.
Robert,
The schedule has your date listed by May 9th. If you haven’t received it by Monday the 12th, I would try using the official stimulus payment tracker on the IRS site to see where it is.
Debbi,
There is no change that I am aware of… Sorry I can’t be of more help.
I read on the IRS (on the tracking homepage) that if ANY preparation or filing fees were duducted from your refund, OR if you filed for a rapid refund, you will be receiving a paper check. This says to me that EVEN IF YOU FILED BEFORE APRIL 15TH, AND EVEN IF YOU OPTED FOR DIRECT DEPOSIT, but you fall in the this catergory, your stimulus check will be mailed. Yet another “turn” from the info initially given! Does this apply if you used a website like Taxslayer or some of the others who charge you an up front fee that you pay to use the website, but no other fees were actually deducted from your 2008 tax return?
I tried the rebate tracker tool on the IRS website and it didn’t have any information. I just called the IRS rebate information line at: 1-800-829-0528 and used extention 726.
Their hours are from 9am-10pm.
They told me that mine would be deposited into my account on 5-9-08.
So if the website is giving you problems just give them a call. They will tell you the amount that is being deposited and the date.
I hope this helps everyone!!.. Good luck.
Ok TaxAct and Turbotax users. Since their is so many asking about this info, and many different answers here, I wrote TaxAct and TurboTax about Direct Deposit for this years Economic Stimulus payment. Here is the info each has sent me.
As for both products, if you used their “FREE” products or filing, and had no fees associated with using their products or services taken out of your refund, then any Direct Deposit Info you provided them should be the same info the IRS has on file and therefore your Economic Stimulus Payment would be sent to the same account, as long as there are no other reasons to prevent Direct Deposit.
TaxAct:
Dear TaxACT(R) Customer:
If you paid your filing/software fees with a credit card during filing, your Stimulus payment will be direct deposited to the same account as your federal refund.
If you chose to have your fees paid from your refund, you enter into an agreement with a 3rd party bank (Republic Bank) that provides that service. Because the IRS is not working through the 3rd party banks to process the Stimulus Payments, you will receive your refund by paper check.
TurboTax:
TurboTax Customer,
Please see the following URL for the information you requested.
http://turbotax.intuit.com/support/kb/e-file/ef-status/1883.html
“Quote”-Will my economic stimulus payment be direct deposited into the same bank account?
No. With the recent enactment of the Economic Stimulus Act of 2008, TurboTax does not ask for deposit information for your economic stimulus payment.
Although the IRS encouraged tax filers to elect to have their rebates deposited directly into their bank accounts, some filers will only be able to receive theirs by mail. They include filers who conducted certain financial transactions, such as paying filing fees from the proceeds of their tax refunds, using third parties, such as SBB&T.
I hope this info helps to clear the confusion for those of you that have used these products.
I filed my taxes through Turbo Tax and Santa Barbara Bank and Trust Refund. Does that mean I will not get my directly deposited? I am calling the IRS…
I am not sure you are asking the question because you truly believe it hasn’t been asked already, or you ignorantly did not read the answer right above your comment. People read the posts befoer asking questions! Thank you Brandy for that advice. Ron, I had been wondering this myself and while I wasn’t 100% positive it was true, considering the fact that the woman at HR Block could not be definitive, I now know that I will get my money in time for Christmas..joy and all that. Janice, log into your account with the software that you used to file your r eturn. View your return (could open in a new window with Adobe) Look for the refund section and a field with a RTN routing number and an account number that was furnished to the IRS for the purpose of receiving your tax refund. IF it matches the account you currently hold, not a temporary account created specifically for your refund and then closed, then you will get a DD rebate. If it doesnt match and you do not recognize the numbers, a check will be mailed. I was one of the first people to file my taxes this year and will be one of the last to receive a rebate..Oh well, it won’t be in my pocket long anyway
My tax refund was a direct deposit this year. I have yet to receive my stimulus payment…and when I went to the IRS site, it said I was scheduled to receive it May 16. According to my SSN I should have been in the first group. (Last two numbers 07)…should I be concerned?
My last two digits are 02 and I still have not received my check.
I am trying to call 1-800-829-0528 and it says that the number is not available in my calling area. I live in Alabama, what’s going on?
Thanks Robyn……appreciate the reply!
NOt a good number should be 18008291040
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