The IRS announced that tax rebate checks will be issued according to a schedule that’s based on the last two-digits of your Social Security number.
For married couples filing a joint return, the last two digits in the first Social Security number listed on the return will be used to determine when the rebate will be sent.
The earliest round of rebates will go out around May 2 and most of the money should be out by mid-July. More than one-third of the rebate money is expected to hit bank accounts and some mailboxes in May.
You must have filed your 2007 federal income tax return to be eligible the rebate check!
Most single people will get $600.00, most married couples will get $1200.00, plus $300.00 for every child under age 17.
(some taxpayers may get less)
If you filed your 2007 taxes on time and used direct your refund should be direct deposited as follows:
May 2 if the last two digits of your Social Security number are 00-20.
May 9th if the last two digits are 21-75
May 16th if the last two digits are 76-99
But if you do not use direct deposit to get your federal income tax refund – or you are paying taxes owed when you file that 2007 return – you’re going to get your tax rebate check later. The rollout times are more complicated, too.
If your last two digits of your Social Security number are 00-09, you could expect that rebate check to be mailed by May 16.
May 23 if the last two digits are 10-18.
May 30 if the digits are 19-25.
June 6 if the digits are 26-38.
June 13 if the digits are 39-51.
June 20 if the digits are 52-63.
June 27 if the digits are 64-75.
July 4 if the digits are 76-87.
July 11 if the digits are 88 -99 or if you owed money and sent a check.
If you are in a formal repayment plan for a student loan or IRS tax bill, you’ll probably get the stimulus check.
You may not get your hands on the stimulus money if you have outstanding tax bills, late child-support payments or late student loans. (The IRS will tell you if your check has been applied directly to other back-taxes or delinquent debts.)
The money is a "rebate", even if you did not actually owe any taxes or got a refund already.
If you were listed as a dependent in 2007, you will not get a rebate check.
Late filers MAY qualify for a stimulus payment this year, BUT the IRS requires you must file a tax return by Oct. 15.
See www.irs.gov for more information and the "stimulus calculator."
We're using ours to pay off a credit card, you can use yours for the same, a new TV, a vacation (preferably in the USA), or any other legal purpose! Happy Spending!
