When will stimulus checks arrive?

[brig2221]

The wife and I had a pretty good year last year, and I thought our combined incomes put us out of the range for receiving a stimulus check.

That said, I had one of my friends tell me that if your NET taxable income was below $150K, that you would indeed qualify for some sort of stimulus payment.

I just filed our taxes a few weeks ago, and we did in fact just dip below $150K on taxable income. So, I know the filing of the tax return is apparently the trigger to send out the check.

Does anyone know what kind of turn around time to expect? I just hate the idea of not knowing to start looking out for a possible $500-$1500 check. Always worried that I will throw it away with the junk mail if I'm not paying attention.

[vsjhoc]

Depends on the last 2 digits of your SSN. The IRS' distribution schedule is here.

[noppenbd]

A good rule of thumb is not to throw out anything with the words "Internal Revenue Service" on it

[vsjhoc]

If you e-filed, the amount of the stimulus payment will be deposited in the account you specified on your return (for your refund or payment). A check will be mailed to you if you filed a paper income tax return.

[cooliemae]

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

Here are the dates for Direct Deposited returns

[disneynutt]

There's also a calculator on the IRS website that tells you how much you can expect to get back. You have to have your federal taxes handy to fill it out - it only takes a minute or so.

[brig2221]

Thanks a lot for the advice. I went into the online calculator, and put in the values of a few of my lines on my 1040 return form, and voila, it spit out a stimulus payout of $499!

I want to thank Congress for being gracious enough to stimulate the growth of my high yield savings account!

[thegoat]

Actually they are going to start distributing the money this Monday! It was just announced today that they will start distributing next week.

The article is on CNN Money if you want to read it.

A clip from it:

The federal government, eager to boost the flagging economy, will start distributing special tax rebates on Monday - five days earlier than expected, the Treasury Department said Thursday.

The department had said last month that it would begin giving rebates on May 2.

Instead, 800,000 tax filers daily will get rebates on Monday, Tuesday and Wednesday. No rebates will be distributed on Thursday, and 5 million payments will be made on Friday.

The payments will go out ahead of schedule because of a new computer program that updates records daily - faster than an older program that updates weekly, according to Andrew DeSouza, a Treasury spokesman.

[GaelicWench]

Well, this is good to hear. I filed electronically through my accountant. Unfortunately, because I ended up owing the IRS, and which I've already paid, my account information wasn't "needed" - this means I will receive a paper check. The approximate time I am to get this check is around July 11th. I wish I had known this as I would have gladly provided my bank account info so that I'd receive a direct deposit of my rebate.

The biggest caveat to all this is that I will have been in the middle of an out-of-state move when my check is scheduled to be mailed. GaelicWench