Tax Rebates Going Out Early

[Graplr]

Yes! I can't wait to get my hands on my $750 check to 'stimulate' the economy!

I'm going to put mine on a down payment on a plasma TV! Wait, I'll think I'll pay down my credit card.

This is the greatest plan ever!

Why did they have to choose SSN last two digits for order...mine is coming last. And I always like having mine end in 999...til now!

http://articles.moneycentral.msn.com/Taxes/Advice/SeeWhenYouWillGetATaxRebateCheck.aspx

Tax rebates going out early

Ready for some good economic news? Americans will start getting their rebates Monday, four days ahead of schedule.



By MSN Money staff Consumer confidence is at a 26-year low. Gas prices have risen yet again. Are we ready for some good news? Here it is: Those tax rebates will start showing up in people's bank accounts Monday, four days early. For those who didn't select direct deposit on their tax returns, the checks will begin hitting the mail May 9, a full week ahead of schedule.
"The money is going to help Americans offset the high prices we're seeing at the gas pump, the grocery store and also give our economy a boost to help us pull out of this economic slowdown," President Bush said today.
Bush said 7.7 million payments will be deposited next week. All told, about 130 million taxpayers will receive rebates.
What can you expect? Most individuals will receive $600, married couples who file jointly will get $1,200, and dependent children are good for another $300 each. This is an advance on a tax credit people would have gotten next year. You won't owe taxes on it, and, contrary to what many people think, you won't have to pay it back.
Rebate distributions will be staggered between now and July for those who filed tax returns by the April 15 deadline.
Whether you plan to save it -- a good idea given the economic downturn -- invest it, spend it to cover rising food and fuel costs, or take advantage of retailers' special rebate offers, consider it a gift from Uncle Sam.

Politicians hope the checks, part of a $168 billion economic-stimulus package, will boost consumer spending, the backbone of the U.S. economy. When you'll get your check

The exact date you receive a stimulus check will depend largely on the last two digits of your Social Security number.
On jointly filed returns, the mailing schedule will be based on the first Social Security number listed, the IRS said. For taxpayers who filed by April 15 and had their tax refunds deposited directly into a bank or other financial account, the IRS will send stimulus payments starting Monday. It estimates direct-deposit payments will be complete by May 2.


If you expect a tax refund and chose to directly deposit it into two or three separate accounts, the IRS will send your stimulus check in the mail. (To have your refund sent to more than one account requires you fill out Form 8888. See this IRS page for more information.)
If you have a past-due federal or state income-tax bill or some other type of past-due federal debt such as student loans or child support, your stimulus payment likely will be reduced by what you owe.
An entire revised timetable for rebate distribution wasn't available, so some of the following dates could be moved up.
Rebate delivery scheduleDirect-deposit paymentAll sent by May 2Paper checkIf the last two digits of your Social Security number are:Your tax rebate check should be in the mail by:00-09May 910-18May 2319-25May 3026-38June 639-51June 1352-63June 2064-75June 2776-87July 488-99July 11




There may be exceptions, the IRS warned. "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," the IRS said.

• Video: Bush on the economic stimulus plan

"We have some returns that require a second look, that require us to pull them out of the processing for some reason or another," IRS spokesman Anthony Burke said. "It may not be that there's anything wrong with the return."
The "vast majority of people" will receive stimulus payments according to the posted schedule, Burke said, "but it's a big system, a lot of returns go through our pipeline," so some returns may not go exactly according to schedule.

[Lexxani]

'bout time the IRS gave me more then a headache. . .

"ridin in the Benz on 20 inch rims, ha"

[Dee8go]

I wonder if anybody will remember this by November? I'll be happy to get mine. I'm planning to stimulate my bank account with it.

[danwatt]

Mine is 99 as well... the roommates is 01, so I get to sit here broke watching them enjoy their lavish lifestyles.

Planning on fixing the AC for the summer. No way I'm going through another summer here in socal without working AC.

[LaRondo]

Originally Posted by Graplr

Yes! I can't wait to get my hands on my $750 check to 'stimulate' the economy!

I'm going to put mine on a down payment on a plasma TV! Wait, I'll think I'll pay down my credit card.

This is the greatest plan ever!

Forget about paying down your credit card. Just keep it level and pay at a steady rate. To make excessive payments or even pay off a card, is at this point the silliest thing to do.

Spend it on something you like (you only live once) or put it in an online savings account, where you get 4-5% on it and can access the cash anytime.

Yay! The value of the Dollar will decrease 4 days early!

The only thing this is going to "stimulate" is the Chinese economy. Both from the money we borrowed from them to give out in this package and when we give it right back to them with the junk people buy. Let's just hand over the country's keys now and get it over with.

The only stimulious we REALLY need is to get the fu*k out of Iraq right now and stop dumping borrowed money where it doesn't belong.

[Jim B.]

The editorial cartoonists are having a field day with this one:

Just in time to buy a tank of gasoline for your SUV!!!

Thanks a lot, "Mr Texas Oil Hustler" in the White House.

[Carleton Hughes]

Whoopee!I can just about buy another share of Rio Tinto for that.......

[Graplr]

Originally Posted by LaRondo

Forget about paying down your credit card. Just keep it level and pay at a steady rate. To make excessive payments or even pay off a card, is at this point the silliest thing to do.

Spend it on something you like (you only live once) or put it in an online savings account, where you get 4-5% on it and can access the cash anytime.

Nope, I am in the process of attacking all my debt Dave Ramsey style. So, any extra money I get goes towards it.

In fact I think having a credit card balance is silly, so I'm paying it off as quickly as I can. Seriously, I don't feel like being in debt my whole life.

[Mistress]

I can use it to pay off my property taxes....

[Dee8go]

That sounds fun. I'm sticking mine into my retirement "envelop."

[Hatterasguy]

I plan on giving mine right to Mastercard.