Thursday, May 8, 2008

Hey, Where's My Tax Rebate?

On May 2 the media was quick to announce that tax rebates would start showing up in the bank accounts of anyone who signed up for direct deposit. Maybe I just didn't hear the small print, but here it is May 8th and I haven't gotten mine yet. That's because there is a schedule for the distribution and I just happen to have an SSN ending in a high number. So, I'll be waiting until May 16th to see a deposit.

Paper checks won't begin to be sent until May 16th. There are 9 waves of checks being sent. The last batch goes to SSNs ending in 88 through 99 and won't be sent until July 11th. So if you're anxiously awaiting your rebate you can curb your anticipation by checking the IRS Stimulus Payment Schedule.

Once you know your distribution date you can find out more about the rebate status by using the IRS online tool Where's My Stimulus Payment?. If you other have questions such as: you've moved, changed bank accounts, or owe back taxes then you should check out the Stimulus Payment FAQ.

Now that I understand the plan (and I'm so glad I chose direct deposit) I can look forward to for to using part of those fund to get my ceiling fans installed. My plan is to do my small part to stimulate the economy and save on my utility bill this summer. The rest will go in my credit union savings.

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