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Where’s My Economic Stimulus Rebate????
By JLP | May 13, 2008
According to the IRS’s payment schedule for the rebate checks, we should have received our payment last week. It never came. So, today I did a little research and I think I found out why:
Q. I filed my return on time, but I haven’t received my stimulus payment, even though the payment date listed for my Social Security number has passed. Why?
A. In general, the payment schedule only applies if your return was received and the IRS finished processing your return before April 15. If you filed your return on time, but close to the April 15 deadline, the IRS may not have finished processing it before April 15.
Processing times for tax returns and stimulus payments vary. If you are getting a regular income-tax refund, the IRS will send you that refund first. Normally, your stimulus payment will follow one to two weeks later.
If you are not expecting a regular tax refund, your stimulus payment should arrive a minimum of six weeks after you file.
I took my time filing my taxes this year because I knew we were going to owe. So, I didn’t file until something like April 12th or 13th. I guess that’s why we haven’t received our rebate. I’m glad they are coming this year because I don’t think we would qualify next year, which is a good thing because it means our income is increasing but a bad thing because it means we HAVE TO PAY MORE TAXES!
Topics: Taxes |
May 13th, 2008 at 4:18 pm
You can always file early but ask them to deduct the payment only on April 15.
May 13th, 2008 at 4:20 pm
Andy,
Yeah, that’s true. I figured that out AFTER I did my taxes.
May 13th, 2008 at 4:37 pm
Paying more taxes is never a bad thing if you are making more money to compensate
May 13th, 2008 at 4:46 pm
This is an advance on a credit on your 2008 taxes. If you don’t think you’d qualify “next year”, does that mean you think your 2008 income would be higher than the limits? If it is, do you have to pay back your payment?
May 13th, 2008 at 7:10 pm
If you had a firm, like TurboTax or HnR Block, take your payment for doing your taxes from your rebate…it was handle by a third party bank. So electric filers in this case will have to wait for paper check.
May 13th, 2008 at 8:59 pm
We filed well ahead of time but owed money (paid it early too). Still haven’t received ours and we were in the group that ended last Friday.
I’ve read that if you owed money then they are sending a paper check.
Frustrating…
May 13th, 2008 at 9:01 pm
No Debt Plan,
Doesn’t make much sense does it?
May 14th, 2008 at 6:12 am
I filed 2 months early. Paid by check 1 week early. Filed for direct deposit of rebate and received our rebate on time, 9 May.
May 14th, 2008 at 8:14 am
On May 11, I got a letter in the mail saying I would receive my payment on May 9. I was confused, until I checked my online bank balance Monday morning and saw the deposit. Apparently if you requested your refund to be direct deposited on your 1040, they will direct deposit your rebate as well.
May 14th, 2008 at 10:30 am
@Kimberly, I have seen it stated that the rebate was processed based on 2007 incomes, if your income changes in 2008 and you should have received it, then they will credit it to you, however if based on 2008 you are above the limits but had received it, you will NOT owe it back at all.
May 14th, 2008 at 10:40 am
To Matt…..Duh!
May 15th, 2008 at 10:51 am
Filed electronically on March 1. Received refund via direct deposit about 2 weeks later. Supposed to receive the “stimulus” payment May 9 via direct deposit, but have seen nothing happening.
May 19th, 2008 at 8:08 pm
I will like to know if anyone can help me. My financial situation is very very bad. I’m a single parent working full- time and going to school full-time for my business degree. I have try over and over to get out of debt but haven’t been able to accomplish it yet. I’ve even had worked two jobs. I try to consolidate or get a loan to pay my bill to start fresh but haven’t been able to. please advise me on what i can do Thank you Yolanda Pabon.