Tax Rebate Checks
March 26, 2008 – 06:00 amIn additional to any state or federal tax returns you may have (or paid if you owed), Bush signed a new law that issues another refund check this year called the Stimulus check. Some of you may recall the Kicker check last year, yet another additional check from the Tax man. The year before that some of you got an extra third check for county tax refund (depending on where you live). It appears these 3rd checks are becoming common (second if you don’t have state income tax refunds). Some of you may have already receive notice in the mail regarding the Stimulus check for this year. Basically to help stimulate the economy, they’re sending you a stimulus check if you qualify. The requirement is you have to file your 2007 taxes and make no mistake, this is a check base on your 2008 tax coming up.
As I mentioned before, most people are happy but fooled into believe getting a refund check is a good thing. It is actually bad because that means you’ve loaned the government an interest free loan throughout the whole year and they’re just paying you back. The best thing to do is get that money up front rather than getting a refund each year and had invested towards something that would have produce more money for you. However this isn’t for everyone as some people just can’t save and getting money back each year is there way of justifying they saved or a way to raise their self esteem into tricking themselves they actually got a large sum of money all of a sudden. The sad truth is this is bad.
In any event, if you did file your taxes for 2007 this year, you may or may not qualify for the stimulus check. If you do qualify, you can earn “up to” $600 for individuals or $1200 for married couples and up to $300 per child. When you’ll receive these checks depend on whether or not you opt for direct deposit or mailed check and what your last 2 digits on your SSN is. Check the table below for details.
5 Responses to “Tax Rebate Checks”
how can you get the money direct-deposited?
By mary on Mar 26, 2008
Hi Mary,
When you filed your regular taxes, if you did direct deposit for those, it’ll direct deposit the stimulus refund or if you had them send you a check, the stimulus refund will be sent as a check. You have to file your 2007 taxes to qualify so depending on how you filed that, that’s how they’ll process your stimulus check and determine how much you actually qualify for, if any.
By Steven on Mar 27, 2008
Thank you Steven. Any idea if they will use my or my husband’s SSN to direct deposit the stimulus check? When we filed, we had the refund deposited my account this time, because he didn’t work last year. My SSN # is 4, his is, 8, but I want to know which week to go on vacation….!
thanks!
By tracy on May 7, 2008
Hi Tracy,
It is base on a two digit SSN number, so if it’s 04 and 08, that would make more sense than 4 and 8.
That said, if you got your regular taxes filed for direct deposit and got the refund, then yes the stimulus payment should be direct deposited as well.
Please bare in mind the dates shown above are start dates, not actual dates. Therefore they have up to 2 weeks to send them out. So if you haven’t received it yet, do not worry. Give them an additional two business weeks to figure it out and if you still haven’t received it then, I would suggest calling the IRS to find out what’s going on. At the same time, you can check the status of your stimulus check by going here:
https://sa2.www4.irs.gov/irfof/IRServlet?app=IRACTC
By Steven on May 7, 2008