Tax Rebates-Stimulus Payment Schedule

Tax Rebates-Stimulus Payment Schedule 3/19/2008

Tax Rebates—Stimulus Payment Schedule: The IRS has announced the payment schedule for the tax rebate checks authorized by the Economic Stimulus Act of 2008. For returns filed by April 15, 2008, payments will be issued between May 2, 2008 and July 11, 2008. Payments, either by direct deposit or check, will be issued weekly, depending on the last two digits of the taxpayer's social security number as follows:

Direct Deposit Payments

If the last two digits of your Social Security number are: Your economic stimulus payment deposit should be sent to your bank account by:
00–20            May 2
21–75            May 9
76–99            May 16

Paper Check

If the last two digits of your Social Security number are: Your check should be in the mail by:
00–09            May 16
10–18            May 23
19–25            May 30
26–38            June 6
39–51            June 13
52–63            June 20
64–75            June 27
76–87            July 4
88–99            July 11

This schedule adds incentive for using direct deposit, since these payments will be issued much earlier than tax rebates issued by check.

The IRS also announced availability of an on-line calculator. The calculator may be accessed at www.irs.gov/app/espc/ . IR-2008-44 .

These articles are intended to provide resources for the tax and accounting needs of small businesses and individuals. The information contained in this Website is intended to provide general information on matters of interest in the areas of tax and accounting and should not be acted upon in your specific situation without further details and/or professional assistance. Users are encouraged to contact us regarding specific situations.

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