Tax refund? Tax stimulus rebate? How to get both of them faster

This tax season, many of us can look forward not only to a tax refund, but also to a one-time tax rebate, ranging from $300 to $1,200, plus $300 for every child.

To get that rebate, you must file a 2007 federal tax return.  And if you want that new rebate faster, you should file your 2007 taxes electronically and arrange for direct deposit of your tax refund. Doing so will automatically will also ensure direct deposit of your rebate. The IRS asserts this route is faster and more secure than snail mail.

How long can you expect to wait for your refund if you do it all electronically? As little as 10 days from the time the IRS confirms it got your return. And your rebate? The IRS says the earliest rebates will be distributed in early May.

Though the IRS hasn't said so, it stands to reason that early filers would get their rebates early as well. Conversely, it's a sure bet that if you file for an extension, you'll have to wait beyond that time for your rebate. That's because the IRS must have your 2007 return before it can determine the size of your rebate.

Other rebate facts:

•You must have at least $3,000 in income to get the rebate. At $75,000 in adjusted gross income for individuals and $150,000 for couples filing jointly, the rebate begins to phase out.

•If you're eligible to be claimed as a dependent on someone else's tax form, you're ineligible for the rebate. For example, college students who earned more than $3,000 can't get the rebate simply by asking their parents to forego claiming them as dependents.

•A number of folks who normally wouldn't file an income tax form, including certain veterans,  Social-Security recipients, and recipients of Railroad Retirement benefits, may be eligible for the rebate. But they MUST file a 2007 return in order to get it.

•If you've filed a 2007 return already but haven't included the benefits mentioned above--which might qualify you for a rebate--you can file an amended return, Form 1040X, available at  www.irs.gov.

•Beware of e-mail and phone messages on the rebate that purport to be from the IRS. They are most certainly are scams.

Comments

[amber]

I'm a 21 year old independent full time student. I have not lived with my single parent for three years and she does not claim me on her tax returns. I also have student loans that I will need to begin paying after I graduate -- am I eligible at all for the tax stimulus rebate? If so, will it go to my student loans, even though I'm still attending school and do not legally need to start reimbursing them until after I graduate?

[kim]

if u owe taxes will u recieve a refund, even if u have an installtion plan set in order

[Sarina]

Will my rebate go onto my H&R Block card? That is where my fed refund was deposited on to.

[rey munk]

I use the IRS rebate calculator and it says that I will recieve $900. I am married and file joint taxes and have one child. I believe I should receive $1500, Is something wrong with the IRS calculator????

[tobie Stanger (Consumer Reports)]

Kathleen,

If you got your rebate on the Emerald Card through a refund anticipation loan, the rebate will come via check. Call the IRS at (800) 829-1040 to ask your address-change question.

[virginia tracy]

i need to know which social security number is used on a joint return to deposit the rebate - is it the first person signing or the male's?
i am trying to find out when our rebate will be deposited

[tobie Stanger (Consumer Reports)]

To Cassie and Amber:

Cassie, you probably are not going to get the rebate because your father claims you as a dependent.

Amber, you probably will not get it either, though the case is less clear-cut. Call the IRS at (800) 829-1040. Don't press 7 for the rebate information; it's just recorded material. Press 1 and then 3 and wait for a human.

[laurie]

When will I recieve my stimulus payment if I filed through H&R Block? No one has been able to answer this question for me.

[Tobie Stanger (Consumer Reports)]

To Rey, Virginia and Laurie:

Rey, there are several factors that can reduce your rebate. If your child is 17 or over, he or she does not qualify for a $300 child rebate. If you and your spouse had too much in earned income ($150,000 or more), the IRS begins to phase out some of the rebate. Or, you may have made too little as a couple to qualify for the full, $1,200-per-couple portion of the rebate. There are other factors, too. Check this URL for more information:
http://www.irs.gov/newsroom/article/0,,id=179211,00.html

Virginia, the first Social Security number shown on the tax form is what the IRS uses to determine when your rebate will be sent.

Laurie, if your refund involved a refund anticipation loan (RAL) or other temporary account, it will be mailed to you. If it involved direct depositing your money into a regular bank account, it will be direct-deposited. Check this URL for the IRS's schedule of distribution:
http://www.irs.gov/irs/article/0,,id=180250,00.html

[Ronda]

I would like to know why a child has to be under 17 in order to get the extra $300.

My son will be 18 on Sunday. He lives under my roof, I pay for all of his expenses, so why am I not allowed to claim him. That is crazy, why is under 17 the cut off when I am still taking care of him.

[Sabrina]

My husband and I filed our tax return in January. We went through H&R Block and did a RAL, but we did direct deposit with our state. Will we still get the rebate check in paper form or will we receive it by direct deposit? Also, I had my second child right after(literally) we filed, does she qualify for the rebate as well? sorry its alot, im just a little confused?

[Tobie Stanger (Consumer Reports)]

Sabrina,

Because you used an RAL with H&R Block, you will get your rebate by mail.

Congratulations on your daughter! I believe she will qualify for a $300 child rebate, but you will have to wait until next year to get it. I'm not sure how the IRS will handle it on the 2008 tax forms; just keep it in the back of your mind and ask your tax preparer about it next year.

[Candi]

I was wondering if i get direct deposit with my checks from ss and ihss why is it my stimulis check won't be direct deposit on my emerald card that is what is to be used for i got that to stay away from the banks now i am being told i will get a check instead of the direct deposit.

[shandarian]

What is the Emerald Card for if u can't get your rebate check on it? That's just a way of making it sound good to the people. I think it should be deposited on there. I have a card with an expiration date is 12/09. What is the purpose of using it if you're supposed to get a check by mail? Everyone knows it and people could go to your mailbox and get it and you said that its the safest way to do anything and you know that you got it. I think that that needs to be checked into and brought into consideration immediately.

thanku

[ka]

I was just wondering, would I still get a stimulus payment? I still owe debt to the dept of treasury for overpayment on my cash aid for the last county that I lived in.

[Gracie]

I filed my taxes for 2007 and I only made 2660. I have two children and i wanted to know if i will receive a rebate check and when. I did not use direct deposit.

[tobie Stanger (Consumer Reports)]

Ka:

Call the IRS on that one: (800) 829-1040. Ignore the prompt for the rebate information (#7), which is just a recording.

[greg]

My wife walked out on me and my three kids. When we get our stimulus check does she also have to sign the check for me to be able to cash it?

[Christina]

If I e-filed through a business tax preparer(ei, "Raven Tax"), do I qualify for Direct Deposit?

[alisa]

Hello,
I filed form 8379 after our federal refund was offset to my husband's student loan. I understand it may take at least 8 weeks to make a decision regarding the injured spouse form. I was expecting to receive our stimulus payment this week according to the IRS website, but I haven't so I called the IRS they couldn't explain when I would receive it.
If the decision is made to split the federal refund, will we get some of it back? How long might that take? Also, how does form 8379 affect the stimulus payment (timeframe, amount, etc.?)
We have 3 children and our filing status is married filing joint. We live in a community property state(TX). It was also supposed to be direct deposit (if it wasn't offset). Thanks so much for your time.

[Tobie Stanger (Consumer Reports)]

Greg,

Sorry to hear that.

I believe that your rebate check will be made out to the same people as were listed on your refund check. So if your refund check was made out to the two of you, the rebate check will be, too. If that is the case, your bank will no doubt require signatures from both of you.

[Tobie Stanger (Consumer Reports)]

Christina,

You need to check with your preparer to see how they arranged for your payments. If they did not already arrange for direct deposit, it is too late to do it for this tax year.

[Bridgette]

I filed my taxes through H&R Block in February. It went direct deposit into my account. The last two digits of my Social Security # is 00. I have yet to see my rebate in my account and today is May 2. I called my financial institution and they said because H&R Block is considered a third-party that I would be mailed a paper check instead? Is this right?

[Tiffany]

My husband has back child support due. Will they keep all of our refund or will I be able to receive my end along with our son's portion? We filed together. Thank you.

[Tobie Stanger (Consumer Reports)]

Bridgette,

If you used one of H&R Block's temporary bank products like a refund anticipation loan, a third party was involved--in this case a bank owned by H&R Block. The IRS says that in such cases, rebates will be mailed even if the refunds were direct deposited.