Your stimulus payment is on the way...eventually
If you played all your cards right and happen to have the right Social Security number, you could get your economic stimulus payment (rebate) this week. The IRS says the first rebate payments--of up to $1,200 per couple and $300 per child--are going out via direct deposit this week to qualifying taxpayers who 1) had their returns processed by April 15; 2) arranged for direct deposit of their refunds and 3) have Social Security numbers ending with the last two digits between 00 and 20.
The rest of us will have to wait a little longer. Those who meet conditions 1) and 2) but have higher Social Security numbers should see their rebates by May 16. The remainder of folks who filed on time could wait as long as July 11, especially if they opted to have their refunds--and hence their rebates--sent by mail. In general, your rebate will be sent the same way as your refund.
That said, there are exceptions. Even if you opted for direct deposit of your refund, your stimulus rebate will be mailed if:
•You opted to direct-deposit your refund into more than one account (called a split refund).
•You got your refund through a refund anticipation loan (RAL). The IRS says it will not direct-deposit rebates into such arrangements. Folks who used H&R Block's Emerald Card to hold their refunds, for example, will get mailed rebate checks. (Click here for details from the IRS, and scroll through the section called "When and How.")
•You paid your tax-prep and/or electronic filing fee by subtracting it from your refund. These arrangements, which use third-party banks--such as Santa Barbara Bank and Trust for TurboTax users--are not eligible for rebate direct deposit.
•You arranged for direct deposit of your refund but then had to change or close your bank account after getting it. When the IRS's attempt to direct deposit fails, the agency will send you a rebate check.
The IRS says it soon will be putting an interactive feature on its Web site that will help taxpayers track the status of their rebates, similar to the "Where's My Refund?" page. Check later this week at www.irs.gov.
Posted by: Mason | Apr 29, 2008 10:51:19 AM
What about people who owed tax? All the information I've read says that if you got your refund buy direct deposit you'll get your stimulus payment quicker. What if you didn't get a refund? Does the same time table apply if you had the tax you owed directly debited from your checking or savings account?
Posted by: Tobie Stanger (Consumer Reports) | Apr 29, 2008 1:02:44 PM
Mason:
This is from the IRS's "When and How?" section mentioned in the post:
Q. If I'm not expecting a refund, should I still fill out the direct deposit line on my return so I can get my Stimulus Payment direct deposited?
A. Yes. Even if you aren't due a refund on your tax return, filling out the bank routing information will allow for your Stimulus Payment to be direct deposited.
So if you didn't already do that on your tax form, you can expect your rebate to be mailed.
Posted by: Janet Neff | Apr 29, 2008 4:54:35 PM
I have a 22 year old daughter who is finishing her last year of college. I still claim her as a dependent. She files her own return for her two jobs, listing that someone else claims her as a dependent. According to what I've read on criteria for the stimulus refund, she is going to miss out on it. It looks like if a dependent child is over the age of 17, they do not qualify. If a child files their own return & can be claimed as a dependent on someone else's return, they do not qualify. I find this very disappointing for a struggling college student who works two jobs along with full time school to be in a blind spot where this stimulus refund is concerned.
Posted by: Jennifer | May 1, 2008 11:42:22 AM
The exception for those who paid their preparation and/or filing fee out of their refund seems a little odd. As is posted above, those who are not due refunds but include their direct deposit information on their return can expect to have their rebates direct deposited. But those who had tax prep/filing fees taken from their refunds, and therefore received their refunds from a third party bank, still included their direct deposit information on their return. The IRS HAS the correct information. Why, in such a case, will they not use it to direct deposit the rebate, but they will use it to direct deposit rebates for those who didn't receive a refund?
Posted by: steketee | May 1, 2008 4:44:39 PM
What if my address changed since I filed? Will my check be forwarded to my new address?
thank you
Posted by: Tobie Stanger (Consumer Reports) | May 1, 2008 5:58:11 PM
It may not be automatically forwarded. Go to the post office right away and fill out an change-of-address form. Here's what the IRS says on its Web site:
Q. I have moved since filing my 2007 tax return. How will my payment reach me?
A. You should file a Form 8822 with the IRS and a change of address notice with the U.S. Postal Service. This will ensure your check is sent to your new address. Without your current address, the check could be returned to the IRS as undeliverable.
Posted by: Joan | May 3, 2008 9:25:37 AM
I am a grad student whose income last year was a taxable fellowship stipend. I did make at least $3000, but was not issued a w-2. I wrote SCH (total stipend amount) on the wages line of the 1040EZ as instructed by the tax manual. I didn't make enough to get a refund, will I get the rebate?
Posted by: Sara M | May 3, 2008 3:05:36 PM
So what about those who used H&R Block but did not use "The Emerald Card" but opted to have their funds direct deposited into their bank account? Will this be considered a mailed check?
Posted by: Tobie Stanger (Consumer Reports) | May 3, 2008 5:30:31 PM
Joan:
If you made more than $3,000 and your stipend is considered earned income, then it seems to me you should be eligible for a rebate. Whether you get the full amount depends on the amount you earned. You could call the IRS at (800) 829-1040 to confirm if you like (don't press #7 for rebate info; it's just a recording).
Keep in mind, though, that if you are under age 24 and a full-time student and can be claimed on someone else's return as a dependent, you may not get the rebate. Your eligibility as a dependent disqualifies you, even if that person does not end up claiming you. Strange but true.
Posted by: Kara | May 4, 2008 4:06:11 PM
so i went to the Stimulus Payment Status page at the IRS web site...put in all the correct info...and guess what???? It says that my info is unavailable!! Can anyone else use this?? or am i just not getting anything? I DO qualify. My last two digits are 69...i chose direct deposit on my tax return...i made over $3000 but less than $75000. So by the websites information, i should be receiveing mine next week...right?
https://sa2.www4.irs.gov/irfof/IRServlet?app=IRACTC&action=displaylogin
Posted by: shelia d. parson | May 5, 2008 2:35:11 PM
I used turbo tax and paid the fees were subtacted from my refund by santa barbara bank, if my stimulus comes from them will they charge me another fee and how long will it take them to get it to me? they direct deposited my refund into my checking account.
Posted by: Tobie Stanger (Consumer Reports) | May 5, 2008 2:39:28 PM
Shiela:
You will not be charged another fee. However, I cannot predict how long it will take to get the rebate, which most certainly will come by mail. Check the IRS's Web site, which may offer some guidance:
http://www.irs.gov/irs/article/0,,id=180250,00.html
Posted by: Jon | May 5, 2008 4:57:50 PM
Well I did not get a refund this year, I owed money. However, I filled out my bank info and paid via direct debit. the last two digits of my SS number are 05--so I should've already received my stimulus payment directly deposited into my account. I have not, and until today. the IRS website couldn't tell me anything. Now it tells me I should be getting my payment May 16th, which leads me to believe I'm getting a check, and not the money directly deposited. While I'm happy to be getting the money, why wasn't it directly deposited by May 2nd, as the schedule shows?
Posted by: Akash | May 5, 2008 9:09:21 PM
We filed with TurboTax and had the amount of tax we owed deducted from our checking account on April 15th. I read that they will not direct deposit the stimulus check in this case. Why not? They sure weren't shy about deducting the amount owed on April 15th!
Posted by: Candice | May 6, 2008 4:47:01 PM
I don't understand why the "where's my stimulus payment" doesn't work. I put in all the correct info and it just times itself out saying sorry your session has ended???? Furthermore, it doesn't seem very fair that those people that filed early in the year say January should have to wait until July to get their payment just because they don't happen to have the right SS number???? It seems there are more rules to getting this rebate and it's one huge waiting game.
Posted by: Bryan | May 6, 2008 5:11:49 PM
Tobie:
If you owed taxes, you will NOT receive a direct deposit of the stimulus payment. This is true even if you e-filed and you elected to have the payment debited out of your bank account.
Posted by: Jan | May 6, 2008 9:56:45 PM
The last two digits of our social security number are 00...we should have received this directly into our account last week. This has NOT occured. Phone calls to the IRS and website say there is no information available........what is happening, please?
Posted by: Tobie Stanger (Consumer Reports) | May 7, 2008 1:45:33 PM
Bryan:
Please note this entry on the IRS news release http://www.irs.gov/newsroom/article/0,,id=182718,00.html
Q. If I'm not expecting a refund, should I still fill out the direct deposit line on my return so I can get my stimulus payment directly deposited?
A. Yes. Even if you aren't due a refund on your tax return, filling out the bank routing information will allow for your stimulus payment to be directly deposited.
Posted by: Carol | May 9, 2008 6:47:24 PM
What about people who owed tax? All the information I've read says that if you got your refund buy direct deposit you'll get your stimulus payment quicker. What if you didn't get a refund? Does the same time table apply if you had the tax you owed directly debited from your checking or savings account?
Posted by: Mike | May 10, 2008 2:25:36 PM
The irs is a joke I'm with ron paul on getting rid of the screwed up system in all. They knew they would do things this way if you had the fees taken out of your refund but they no where no how told people what was going on that you wont get your refund on that date they told you to be looking for it. What a big ass joke of a system.
One mad US citizen
Posted by: Lily | May 12, 2008 10:30:19 PM
I checked on when we should be getting our stimulus payment as "married filing jointly" and got: "Your last name and/or Social Security Number did not agree with either our records or those of the Social Security Administration..." I checked with SSA and they still had my maiden name listed on my Social Security Card (I know I notified them of the name change when I got married and provided documentation!). So I went down to SSA last week with the proper documents and had them change it to my married name (which is the name I've been filing on our taxes for the past 6 years). The person there said IRS should get my new info in about 2 weeks.
How will this affect our stimulus payment? Will it be delayed or are we out of luck because of this mistake?
Posted by: Denise | May 13, 2008 12:30:52 PM
Well I can tell you by the IRS operators own admission, their system is "very old". I owed money from 2005. I paid what I owed via my 2007 refund. I should have received a direct deposit today, but I did not. I called the IRS, as the on-line system is as useful as an ice machine in an igloo, I waited my 25 minutes for an available operator to "help" me and was informed that my payment has been frozen. The operators answering the telephone calls can physically look and see that my debt has been paid, but no one at that call center for the IRS has the authorization to release my funds. I have to wait 6-8 weeks AFTER a letter is mailed out to me on May 26, 2008, for a computer program to run. This program will tell another program that my debt has been paid and that it is okay to send me my stimulus payment. Why do I have to wait? Well, they have to check and double check that I do not owe any more money since they last checked in February of 2008. Way to go IRS, you have found yet one more way to screw people out of money they were owed. Oh yeah, I'll get my money...........when the IRS is ready for me to get it.
Posted by: Kay | May 15, 2008 8:08:26 PM
This stimulus rebate, is a joke. The purpose of this rebate is to jump start the economy. When the stimulus payment was first past it was never mentioned that if you used companies like H&R Block or Turbo Tax you rebate would be mailed. This was just another way for the IRS to hold on to the money. The majority of people used companies like this to process their taxes. It should not matter, nor take this long to mail out checks. Based on current information it will be the fall before people get checks. IRS keeps changing the rules, and by doing that it hurts the economy. What's new!!!!