Tax Stimulus Rebate Payments to Start Early
Tip It!If you’re expecting a tax stimulus rebate payment, your wait just got shorter. While the original tax rebate payment schedule called for payments to begin on May 2nd, a new computer system has allowed the feds to accelerate the schedule. Payments are now supposed to commence this coming Monday, four days early.
According to the new schedule, 800,000 tax filers per day will receive direct deposit payments on Monday, Tuesday, and Wednesday. No payments will go out on Thursday, and then 5,000,000 payments will be made on Friday. They’re hoping to get $50 billion out of the total $110 billion rebate program distributed by the end of May.
If you happen to be one of the lucky early recipients, please be sure to stop back in and post a comment when your payment arrives.
Source: CNN/Money
Published on April 25th, 2008 - 136 Comments
Filed under: Taxes
About the author: Nickel is the founder and editor-in-chief of this site. He's a thirty-something family man who has been writing about personal finance since 2005, and guess what? He's on Twitter!
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136 Responses to “Tax Stimulus Rebate Payments to Start Early”
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April 25th, 2008 at 7:23 pm
Does anyone know how they determine who gets their rebate first and how they are distributed? Do they use SS numbers like the draft?
April 25th, 2008 at 8:27 pm
yes, they use SS #s to determine when you get your check. Here’s the original schedule:
http://www.irs.gov/irs/article.....50,00.html
April 26th, 2008 at 12:45 am
It’s too bad the IRS hasn’t updated their website yet to reflect the new dates…
April 26th, 2008 at 2:48 pm
Mine has already posted to my account! I figured I’d be among the first since the last two digits of my SSN falls within the range of the first distributions.
Although it is dated in my checking account for 4/28, it posted Friday night 4/25!
April 27th, 2008 at 12:00 pm
I already got my stimulus rebate direct deposited into my bank account this past saturday. It was an early suprise. $600.00 was direct deposited, as expected, but over a week early. can’t beat that.
April 27th, 2008 at 6:26 pm
We just got ours today, April 27th. Woohoo!
April 28th, 2008 at 10:28 am
Yeah, my husband’s last two digits are 12 and we haven’t gotten ours yet either. What are some of the digits for the direct deposits that have already taken place? Odd.
April 28th, 2008 at 10:46 am
I know that it was said that a notice would be sent out to let people know if they where going to get the rebate and the amount of the rebate. My husband and I both qualify for the rebate according to the irs calculator, but we have not gotten a notice that we will be getting the rebate.
Just wondering, for those of you that already got the rebate, did you receive a notice?
April 28th, 2008 at 11:30 am
I had my tax refund direct deposited, got a notice in the mail about my rebate, but I haven’t recieved my rebate yet either, and my last 2 digits are 14…:-(
April 28th, 2008 at 11:44 am
I just got one today, but I’m not sure if it is mine or my fiance’s, since we share a bank account. To answer a question, no I didn’t get a notice. I just called the bank and asked if it had been deposited. I was wondering, though, I have been using these online tax rebate calculators and although I claimed single and put in that I have 1 dependent, it says I should get $600, but I thought I was supposed to get $600 plus $300 for 1 dependent. Anyone know about that?
April 28th, 2008 at 11:59 am
Even though I had my federal refund direct deposited into my account and my last two digits are 12 and I got a letter stating i qualified for a stimulus payment, my account balance remains the same…..
April 28th, 2008 at 12:42 pm
My last two digits are 01 and I don’t have anything deposited yet
April 28th, 2008 at 12:51 pm
My husband and I are waiting to.I did recieve the first letter from the IRS but never the second one.I did the estimator thing and it says we are suppose to get one.The last two of SSN is 01 for the people that already got one did your # fall before that?
April 28th, 2008 at 1:06 pm
I filed my taxes through H&R Block online and had my fees deducted from my check but then direct deposited into my checking account. My papers show H&R block account. Does anyone know how this will affect direct deposit of stimulus payment?
April 28th, 2008 at 1:12 pm
I got my payment last friday and the last 2 of my ssn are 13 so I don’t know why some people haven’t gotten theirs yet.
April 28th, 2008 at 1:20 pm
must be really random then, cause my last two are also 13 and nothing here yet…:(
April 28th, 2008 at 1:30 pm
For the people that did recieve their refund did you recieve a letter telling how much and when your refund would arrive?Because the hotline says if you are to recieve one you will recieve 2 letters prior to recieving it.
April 28th, 2008 at 1:31 pm
The last two digits of my SS are 15 and i got mine on saturday. But my fiance, who’s last two digits are also 15 has not gotten his. Its all very weird.
April 28th, 2008 at 1:59 pm
I have a friend who soc is 49 and she got hers today
April 28th, 2008 at 2:44 pm
I should be getting a rebate but never recieved a letter. Last 2 #’s are 22 will let yall know if i get mine in the next couple of days.
April 28th, 2008 at 3:04 pm
Our last two digits are 00 and we have not gotten ours either. Neither did we receive a second notice. We had ours deposited on a Wal-mart Money Card….. so why have we not gotten ours when it’s supposed to show right away?
April 28th, 2008 at 3:08 pm
I haven’t yet seen the rebate hit my bank acccount either, with my social ending in 16 I do expect it any day
April 28th, 2008 at 3:17 pm
Our last two digits are 06 and nothing yet for us either. We received an initial letter, but not a second notice.
April 28th, 2008 at 3:27 pm
When they had the rebate at the beginning of the Bush administration, the government used the last two of the social to make the schedule going from lowest to highest. One would think that this time they might have start with the highest?
April 28th, 2008 at 4:01 pm
I also think the second notice many are expecting may come after the rebate itself. It should be a letter for you to keep track of the rebate when it comes to filing taxes next year. Not that you’ll have to pay more taxes next year, but those who don’t get the rebate but are due one will be able to claim it on next year’s taxes.
April 28th, 2008 at 4:02 pm
I was also informed that if you got your refund put onto a “card” (h&r block card, walmart card, etc.) it will not be put back on the card. You will receive a check.
April 28th, 2008 at 4:05 pm
My Husband’s is 91 and we did not get anything, so its not reverse order. We only received one notice… did not hear anything about getting two notices. Also, filed in January by direct deposit.
April 28th, 2008 at 4:25 pm
I know it’s not reverse order. But in fairness, it should be.
April 28th, 2008 at 4:29 pm
omg..I have my taxes on a H&R Block card direct deposit…does this mean i have to wait for a chk? oh plz dont say its tru!!
April 28th, 2008 at 4:38 pm
In order to receive the rebate direct deposit, you must have had your taxes direct deposited into an actual bank account….All though person that went to HR block etc..or had there taxes direct deposited on card will have to wait on a paper check….
April 28th, 2008 at 4:39 pm
Ok just wanted to let everyone know I got really tired of wondering so I called the IRS today and like I said the last two of our ssn is 01 and we filed in late January so I was wondering were ours was and it turns out if you had your taxes done at Jackson Hewitt or H and r block or somewhere like that and you did an ARL or had it back to you faster they will not be done like a direct deposit they will be done in mailed checks.Like I expected mine back this week but they told me it will be mailed the 16th of may so I hope this helps the rest of you that are wondering.
April 28th, 2008 at 4:41 pm
there was 800,000 deposits today and there will be 800,000 more on Tuesday and Wednesday..those of you that received it early, your bank release the money early(good banks)…there will be 5 million deposits on Friday…They’re skipping thursday…good luck my last two digits are 57
April 28th, 2008 at 4:57 pm
Is it possible it is going by regions? Not just ssn. Like west coast then east ect… just a thought. I am awaiting also. And my last two are 14 and I am in the south area.
April 28th, 2008 at 5:27 pm
We are waiting too . We are 14 … I was so hoping to receive today … oh well.
April 28th, 2008 at 5:38 pm
Any know if it is true that if you used turbo tax or tax act etc, and had fees taken out of refund, they wont directly deposit the check??
April 28th, 2008 at 6:33 pm
I wonder if it has anything to do with how soon you filed your taxes? Maybe people who filed earlier get the rebate earlier? We filed a week or two after we got our W2s so if that’s the case maybe we’ll get our rebate Tuesday or Wednesday…
April 28th, 2008 at 7:41 pm
Per Yahoo News:
Both the direct deposit payments and the paper checks are being processed by the last two digits of a taxpayers’ Social Security number.
For people receiving direct deposits, those with a Social Security number ending in 00 to 20 will have their economic stimulus payment deposited to their bank account by this Friday.
Those with Social Security numbers ending in 21 to 75 will get their direct deposits by May 9 and those with Social Security numbers ending in 76 to 99 will get their deposits by May 16.
For those receiving paper checks, the last paper checks, covering people with Social Security final digits from 88 to 99 will be in the mail by July 11 under the current schedule. The IRS estimates that about two-thirds of the payments will be paper checks and one-third will be direct deposits.
April 28th, 2008 at 7:50 pm
I seem to qualify (made $12,000 in wages last year; single, no one can claim me as a dependent and I have no children) but I just got one notice. The generic letter explaining that Congress passed the economic stimulus package. I never got a second notice confirming I was going to get one, and neither did anyone else in my family and they qualify too. Does this mean you’ll only get a payment if you got a notice?
My last two digits are 46 and no deposit yet…
April 28th, 2008 at 8:04 pm
For those of you who thought you were supposed to get yours today but have not recieved it yet, try calling your bank and speaking with are rep. I called my bank because I was tired of being disappointed everytime I learned my account balance hadn\’t changed and they told me mine had in fact been received and was post dated for 4/30. The last of my ss are 15. According to the rep, the banks are continuing to receive checks from the treasury, and they hold the check until the date it is dated for. Your bank very well may have received your payment, but hasn\’t posted it to your account yet.
In regards to the second letter I didn\’t receive one either, but the guy at IRS said that didn\’t mean anything. I was concerned about a student loan that I had, so I was instructed to call the US Treasury at 800-304-3107. It will direct you to a line that will require you to put in your ss and tell you if you have any debts ie student loans, child support, taxes that will require refund to be offset.
Hope this info helps.
April 28th, 2008 at 8:22 pm
I work in a tax office and I thought I would clarify the direct deposit issue concerning H&R Block, Jackson Hewitt, etc. If you had your fees from the tax place taken out of your refund, you will receive a paper check, even if the money you received from the remainder of your refund went into your bank account or onto a prepaid debit card offered by the tax office. This is why: when the IRS deposited your refund, they deposited into an account at a third-party bank where your fees for having your taxes done and also the fees due to the bank for that service are first deducted, then the rest is disbursed to you either by direct deposit, or by check picked up at the tax office. The only direct deposit info the IRS has on your return is for the third-party bank, not your personal account. This is why you will get a paper check. The only exception to this is if you had your refund deposited onto a prepaid debit card offered by the tax place, but paid your fees upfront and DID NOT have them taken out of your refund. In that case the rebate will go on your card.
April 28th, 2008 at 8:27 pm
Abby, is that just for Jackson Hewitt and h&R block or also for tax act and turbo tax, etc??
April 28th, 2008 at 8:31 pm
If you had your fees deducted from your refund, the same would go for the online prep methods. Because your refund has to go somewhere before it goes to you, in order for your your prep fees to be paid.
April 28th, 2008 at 8:34 pm
Does that include sites like Free Tax USA (freetaxusa.com) where it’s free to file the federal? I did it myself on that site.
April 28th, 2008 at 8:39 pm
As far as I know i’m eligible for the payment but never received a notice. I called the treasury hotline and have no debts (was concerned about my student loans) on file. My last 2 digits are 04 and my bf’s are 08 and he received his on the 26th! I still haven’t received mine and neither has my brother and his are 14. I can see there is a strange order to this, could it be alphabetical?
April 28th, 2008 at 8:42 pm
If you did your taxes online you will have your rebate direct deposited if: 1)You didn’t pay any fees or paid your fees upfront with a credit card 2)You received a refund and 3)You had your refund direct deposited into a single account.
April 28th, 2008 at 8:46 pm
thanks for clarification abby
April 28th, 2008 at 8:55 pm
Any idea when someone with the last two digits of 54 will be deposited? This is really confusing. Maybe they should have left the schedule as is….but i guess if you get it early you don’t feel that way
April 28th, 2008 at 8:57 pm
So the 1st round is getting deposits this week. What about the other rounds? I’m in the 3rd round but there isn’t any news about that.
April 28th, 2008 at 8:58 pm
No problem Tia. As far as I know the second notice everyone has been wondering about will come after you get the rebate. Make sure to save it. You’ll need it when you prepare your 2008 return. I haven’t discerned the way they’ve determined the order of the early distributions yet. I’ll happily field any other questions concerning eligibility for the rebate and how they determine the amount, though.
April 28th, 2008 at 9:04 pm
I am in the 1st round and I havent got it yet in my bank I hope it will be soon.