There is one key point to address first and that is the
rebates are based on that the IRS must first see some 2007
income tax return on file. Due to an eager anticipation to
help the economy the stimulus payments have already begun
to be sent out! On April 28th eight hundred thousand tax
payers began to receive their refunds directly deposited
into their bank accounts. On May 2nd another five million
payments are scheduled to go out. The original scheduled
date for paper checks to have been mailed out was May 16th.
Now the dates have changed and May 9th started the massive
paper check distribution.
The rebates will be sent out according to the last two
digits of your social security number (for married filing
jointly it is according to the first person listed on the
return). The following are dates for people who selected to
have automatic deposit into their banking accounts. If the
last two digits are from 00 to 20 you should receive your
payment no later than May 2nd. Numbers ranging from 21 to
75 have a planned date of May 9th, and the scheduled date
for numbers from 76 to 99 is May 16th.
If you filed your return without selecting direct deposit
your check will be mailed by the following dates in
relation to the last two digits of your social security
number. Keep in mind that all the dates listed are for
filers who filed before April 15th. If you filed close to
or on the deadline, plan on adding another two weeks to the
projected delivery dates.
Last Two Digits of SSN & Date Check To Be Mailed By:
00 to 09 May 16th
10 to 18 May 23rd
19 to 25 May 30th
26 to 38 June 6th
39 to 51 June 13th
52 to 63 June 20th
64 to 75 June 27th
76 to 87 July 4th
88 to 99 July 11th
The eligibility for the rebate is subject to maximum income
limitations. If income exceeds the amount of $75,000 for
individuals or $150,000 for a married filing jointly the
payment is reduced by 5% of the exceeding amount.
Besides meeting the income requirements there are other
reasons you may not receive your stimulus payment. For
example, if you currently owe the IRS money the stimulus
payment will be applied to your balance. This includes if
you are on a scheduled payment plan with the IRS. Also, if
you have not filed previous tax returns the IRS may hold
your check until the return is filed in order to confirm
that there is no outstanding liability. The refund will
also be applied against other non-tax federal debt such as
defaulted student loans or child support. If you have any
other type of IRS hold you will not receive the refund. In
the event that your stimulus payment is applied against any
source of debt the IRS will send you a letter explaining
how the funds were distributed.
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This information was derived from investigating the IRS.gov
website and various other internet sources.
We invite you to visit our website anytime. It is designed
by a tax specialist who is a Certified Public Accountant
and a former Internal Revenue agent with 27 years
experience: It is: 'doggedbyirs.com'
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