In February, President Bush signed the Economic Stimulus Act of 2008. As part of this act, over 130 million taxpayers will receive an economic stimulus payment, or rebate, this year.
Most taxpayers will get the full amount available for the payment after
they file their federal tax return. The payments began to arrive on April
28th.
The IRS indicated that they will deliver payments via direct deposit if the taxpayer selected direct deposit to receive their tax refund. If the taxpayer elected to receive their tax refund via check, then they will receive the economic stimulus payment via check.
The IRS also indicated when the deposits will hit accounts:
Taxpayers who choose direct deposit on their federal income tax returns can expect to receive their economic stimulus payments between May 2nd and May 16th provided their returns were received and processed by April 15, 2008.
For taxpayers who did not choose direct deposit on their tax return but whose returns were processed by April 15th, the paper checks will be in the mail starting May 16th, with the initial mailings completed by/around July 11th.
Assuming you are eligible for a stimulus payment, you can use the last two digits of your social security number to determine the approximate date you can expect to receive your payment.
Stimulus Payment Schedule for Tax Returns
Received & Processed by April 15th
Direct Deposit Payments
| If the last two digits of your Social Security Number are: | Your payment deposit should be sent to your account by: |
| 00-20 | May 2nd |
| 21-75 | May 9th |
| 76-99 | May 16th |
Paper Check
| If the last two digits of your Social Security Number are: | Your check should be in the mail by: |
| 00-09 | May 16th |
| 10-18 | May 23rd |
| 19-25 | May 30th |
| 26-38 | June 6th |
| 39-51 | June 13th |
| 52-63 | June 20th |
| 64-75 | June 27th |
| 76-87 | July 4th |
| 88-99 | July 11th |
Please remember, some eligible non-tax filers, like those with
limited income, must file a 2007 tax return to be eligible for this payment.
Eligible non-tax filers include those who received social security benefits
and/or disability compensation, pension or survivors' benefits last year
(2007).
The attached brochure explains who will/should receive the rebate and eligibility requirements. Additional brochures can also be found at the nearest branch location.
More information on the stimulus payment is available at www.irs.gov
**Beware of phone and email scams. The IRS will not call or email you about the stimulus payments or to ask for any financial information.
