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Here's when you can expect stimulus rebate

You must file by Oct. 15 to get check this year

By Betty Lin-Fisher
Beacon Journal business writer

Published on Tuesday, Mar 18, 2008

Want to know when your economic stimulus rebate check will be coming?

It'll be faster if you opt for direct deposit into your bank account when you file your 2007 tax return, if the last two digits of your Social Security number are low and if your return has been turned in and processed by April 15.

On Monday, the IRS released its schedule, outlining how the government will begin issuing the checks based on Social Security numbers.

Direct deposit payments should arrive in bank accounts on May 2, May 9 and May 16 (see accompanying box). Those opting for a paper check via U.S. mail will begin getting them weekly, starting May 16 through July 11. That means if the last two digits of your Social Security number are 88 to 99 and you opted for a paper check, you won't get it until mid-July.

For couples who filed a joint return, the Social Security number used to file the return will be the one that determines when your rebate is issued.

A few things to note:

• If you already filed your taxes and did not request a direct deposit, there's no way to amend it; your rebate will be a paper check, according to the schedule outlined.

• If you owe taxes for 2007, you will most likely receive your rebate in a paper check.

• You must file a return to get the rebate. The timetable released on Monday is for tax returns received and processed by April 15. People who submit returns on April 15 should expect their rebate check within two weeks of the refund being processed.

Although people who have $3,000 in qualifying Social Security or other benefits don't have to submit returns by April 15, they will not get their rebate checks as quickly if they don't meet that deadline. Returns must be filed by Oct. 15 to ensure a rebate check is sent out by the end of the year.

 

Betty Lin-Fisher can be reached at
330-996-3724 or blinfisher@
thebeaconjournal.com.

 

Want to know when your economic stimulus rebate check will be coming?

Get the full article here.


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