Stimulus Payment Schedule for Tax Returns Processed by April 15

[CCdaCE]

Stimulus Payment Schedule for Tax Returns Processed by April 15


I ran across this link that lets you know when your "stimulus" direct deposit/check will be transfered/mailed based on the last 2 digits of your SS number. Stimulating.

I thought this would be handy to know. Previously, I didn't know that there was a schedule, or rather, where the info. was published.

Stimulus Payment Schedule for Tax Returns Processed by April 15

Sorry if someone else posted it, but I can't find it and I don't remember what caused me to go to the IRS site in the first place.

-CC

 

[Razor]

Darn. I will be one of the last ones to get my check and I need that money to go out and buy some useless junk.

 

[poboy]

Mine should arrive in time for me to send it back, quarterly estimate.

 

[Martha]

What happens if you get a filing extension?

 

[Razor]

What happens if you get a filing extension?

People who file a return after April 15 will receive their economic stimulus payment, but probably about two weeks later than the schedule shows. A return must be filed by October 15 in order to receive a stimulus payment this year. See the online calculator for an estimate of the amount you will receive.
A small percentage of tax returns will require additional time to process and to compute a stimulus payment amount. For these returns, stimulus payments may not be issued in accordance with the schedule above, even if the tax return was processed by April 15.​

 

[Ronstar]

Here's what bothers me. If this is an economic stimulus payment, why do some people get more money than others? Given equal amounts, wouldnt everyone be equally qualified to stimulate the economy?

 

[Notmuchlonger]

Here's what bothers me. If this is an economic stimulus payment, why do some people get more money than others? Given equal amounts, wouldnt everyone be equally qualified to stimulate the economy?

Whoever said wealth redistribution was ever fair?

 

[Ronstar]

Whoever said wealth redistribution was ever fair?

I know, I know. But that's the point - the government isn't calling it a wealth redistribution program - they're calling it an economic stimulus package. And the present program won't stimulate the economy. They've already spent more money putting this thing together than what the economic benefit will be.

 

[ladelfina]

Seeing as most people report they will be paying down debt with their stimulus checks.. I see it as a veiled way to funnel US Treasury funds to (barely-solvent-if-at-all?) banks without drawing attention to it as a "bailout".

Even if it "costs" what we quaintly think of as "money".. Someone Up There probably thinks it's worth it to get a few more months of fumes to run on.

 

[W2R]

Seeing as most people report they will be paying down debt with their stimulus checks.. I see it as a veiled way to funnel US Treasury funds to (barely-solvent-if-at-all?) banks without drawing attention to it as a "bailout".

Even if it "costs" what we quaintly think of as "money".. Someone Up There probably thinks it's worth it to get a few more months of fumes to run on.

Well... people may SAY that they will use the checks to pay down debt, but will they really do that? I am skeptical.

I think most may intend to pay down debt, but instead will end up using their stimulus checks to buy luxury electronics, like iPods, iPhones, and Wii. Or, maybe I am not thinking on a large enough scale. Maybe they will use their stimulus checks as down payments on new SUV's or boats.

 

[Razor]

Well... people may SAY that they will use the checks to pay down debt, but will they really do that? I am skeptical.

I think most may intend to pay down debt, but instead will end up using their stimulus checks to buy luxury electronics, like iPods, iPhones, and Wii. Or, maybe I am not thinking on a large enough scale. Maybe they will use their stimulus checks as down payments on new SUV's or boats.

Those under 30 will probably blow the money on junk. Older folks will probably just put it in the bank and forget about it. Just my opinion.

 

[Notmuchlonger]

I know, I know. But that's the point - the government isn't calling it a wealth redistribution program - they're calling it an economic stimulus package. And the present program won't stimulate the economy. They've already spent more money putting this thing together than what the economic benefit will be.

We cant handle the truth!

 

[Buckeye]

Regarding the Stimulus Payment

This information was in the latest Kiplinger's Retirement Report:

Taxpayers Get a Second Shot at the Tax Rebate

If your 2007 income was too high to qualify for the tax rebates that will be sent out starting May 2, don't despair. Rmember, the rebate is really a prepayment of a tax credit created for 2008 returns. If you retire this year and your 2008 income falls below the phase-out levels--$75,000 on a single return or $150,000 on a joint one--you'll get your $600 ($1200 on a joint return) tax benefit when you file your 2008 return next spring.

What if you get the rebate this year but a spike in income--big capital gain, maybe or a buyout--pushes you above the $75,000 or $150,000 thresholds for 2008? Don't worry. In an unusual heads-you-win/tails-the-IRS loses setup, you don't have to pay the money back.

If you're not sure how big a rebate you can expect, check out our tax-rebate calculator at kiplinger.com/tools/rebate.

 

[CCdaCE]

Those under 30 will probably blow the money on junk. Older folks will probably just put it in the bank and forget about it. Just my opinion.

I'm looking forward to playing 20 questions with coworkers. "How ya gonna spend your check?"

-CC