IRS announces rebate release schedule

The IRS has released its schedule for issuance of rebate checks in response to the Economic Stimulus Act of 2008 (P.L. 110-185). The payment dates range from May 2 to July 11, 2008, and are based on:

· Whether the taxpayer uses direct deposit or paper check; and

· The last two digits of the taxpayer's social security number.

People who file a return after April 15 will receive their economic stimulus payment, but probably about two weeks later than the schedule shows. A return must be filed by October 15 in order to receive a stimulus payment in 2008.

DIRECT DEPOSIT

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

PAPER CHECK

Last two SSN digits:	Payments will be mailed by:
00 through 09	May 16
10 through 18	May 23
19 through 25	May 30
26 through 38	June 6
39 through 51	June 13
52 through 63	June 20
64 through 75	June 27
76 through 87	July 4
88 through 99	July 11

 

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