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Stimulus Payment

Stimulus Payment Schedule for Tax Returns Processed by April 15

Economic stimulus payments will be issued according to the last two-digits of the main filer's Social Security number. People who use direct deposit also will be among the first to receive the payments starting May 2.
Paper checks will be put in the mail starting May 16.

DIRECT DEPOSIT

Last two SSN digits: Payment will be transmitted:
 00 through 20  May 2
 21 through 75  May 9
 76 through 99  May 16

PAPER CHECK

 Last two SSN digits:  Payments will be mailed by:
 00 through 09  May 16
 10 through 18

 May 23

 19 through 25

 May 30
 26 through 38  June 6
 39 through 51  June 13
 52 through 63  June 20
 64 through 75  June 27
 76 through 87  July 4
 88 through 99  July 11
 

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.

 

*People that have no filing requirement may still be eligible to receive a payment of $300 ($600 for married couples) if they have at least $3,000 in qualifying income.

*Qualifying income includes any combination of earned income (w-2, paychecks), nontaxable combat pay and certain benefits from Social Security, Veterans Affairs and Railroad Retirement.

*If eligible to receive the $300 (or $600 for married couples) may also be eligible for the additional $300 payment for each qualifying child (under 17). 


FOR ADDITIONAL INFORMATION CLICK HERE TO GO TO THE IRS WEBSITE

*Stimulus payment will be subject to offset against outstanding tax and non-tax liabilities.

*Stimulus payment is not taxable. You will not owe tax on your payment when you file your 2008 tax return. Also the payment will not reduce or increase your refund on your 2008 return.

*Stimulus payment will not count or negatively impact any other income-based government benefits, such as Social Security, food stamps or any other program.




(information gathered from IRS pub 4665 and IRS newswire IR-2008-051)

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