Sunday, April 27, 2008

Economic Stimulus Payment Schedule

Looking forward to your stimulus check from the IRS? Here is the payment schedule from the irs.gov website. I'm glad I used direct deposit!

What are my plans with our stimulus check? Probably put it in our savings (still trying to build that emergency fund)...or maybe purchase some household appliances that are in need of an update...such as our water heater, oven and/or refrigerator!

What will you be using your stimulus payment for?? Please leave a comment... I'd love to hear from you!

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 April 28. The first cycle of paper checks will be mailed starting May 9 and continuing through May 16.

DIRECT DEPOSIT
Last two SSN digits: Payment will be transmitted by:
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.

3 comments:

Austin said...

Good post. There are many ways to spend your stimulus. One thing to be mindful of are the retailers who are offering 10% bonuses in gift cards for your stimulus. I work for a company that manages and tracks gift cards, and we blogged about this issue a few days ago on savvywallet.com. Consider this: $100B was spent on gift cards last year, and $8B was lost/unredeemed. Do the math.

hAwAii mOnEy sAvInG mAmA said...

Thank you for that information! Great to know!

Busymama Kellie said...

We'll probably put it in our savings. With trying to buy a house in Hawaii's crazy real estate market we'll need all the help we can get!