Economic Stimulus Faqs From the Roni Deutch Tax Center®
February 11th, 2008
Roni Deutch asked:
Do I need to report my stimulus check payment as income?
No. Although rumors have been floating around about the stimulus checks, most of them are misconceptions. When you file your 2008 federal tax return you will not need to include your refund as income. However, it is also important to note that if you did not qualify for the payment based on your previous tax return, but your situation changes this year, then you may be eligible for the stimulus check when you file next April.
What if I have not received my economic stimulus check?
First of all, do not worry. The Treasury Department will mail most of the stimulus checks based upon the IRS schedule, but not all. If you filed your return late, then your check will be mailed out after the initial batch of checks are sent out. Additionally, if you filed your return close to the April 15, then it is likely that the IRS did not process your return before the deadline so you might be lumped in with the checks for late filers.
Everyone who will get a stimulus check will first get a letter from the IRS telling you to expect it. Your check is likely to be mailed out a few weeks after the letter, so if you have not yet gotten the notice then it could be even longer before you get the payment.
If you have not gotten your check yet, then the best thing to do is just wait for a few weeks. If you filed a return, then you have nothing to worry about. However, the IRS has setup a “Where’s My Stimulus Payment” page on their website that will let you track the status of your payment.
When will I get my economic stimulus check?
If you filed your return on time then you should expect to get your check according to the data below. However, if you did not file your return until after April 15, 2008 then you can expect to receive your payment at least two weeks later than your scheduled date. But note that if you do not file a return before October 15, 2008, then you will not receive a stimulus check this year.
For taxpayers using direct deposit the payments we be submitted as follows:
Last two SSN digits:
00 through 20 - May 2
21 through 75 - May 9
76 through 99 - May 16
For taxpayers getting regular checks your payments will be mailed as follows:
Last two SSN digits:
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
Do I Need to File a Return to get my Stimulus Check?
Yes. The IRS will automatically send out the economic stimulus checks this spring based on 2007 federal income tax returns. In order to get your check you must file a return with the IRS. Even if you do not pay taxes or have any federal tax liability, such as seniors living off of Social Security checks, you still need to file. However, if you owe past due back taxes you may not receive a check as the IRS will deduct what you owe from your rebate.
Do I need to report my stimulus check payment as income?
No. Although rumors have been floating around about the stimulus checks, most of them are misconceptions. When you file your 2008 federal tax return you will not need to include your refund as income. However, it is also important to note that if you did not qualify for the payment based on your previous tax return, but your situation changes this year, then you may be eligible for the stimulus check when you file next April.
What if I have not received my economic stimulus check?
First of all, do not worry. The Treasury Department will mail most of the stimulus checks based upon the IRS schedule, but not all. If you filed your return late, then your check will be mailed out after the initial batch of checks are sent out. Additionally, if you filed your return close to the April 15, then it is likely that the IRS did not process your return before the deadline so you might be lumped in with the checks for late filers.
Everyone who will get a stimulus check will first get a letter from the IRS telling you to expect it. Your check is likely to be mailed out a few weeks after the letter, so if you have not yet gotten the notice then it could be even longer before you get the payment.
If you have not gotten your check yet, then the best thing to do is just wait for a few weeks. If you filed a return, then you have nothing to worry about. However, the IRS has setup a “Where’s My Stimulus Payment” page on their website that will let you track the status of your payment.
When will I get my economic stimulus check?
If you filed your return on time then you should expect to get your check according to the data below. However, if you did not file your return until after April 15, 2008 then you can expect to receive your payment at least two weeks later than your scheduled date. But note that if you do not file a return before October 15, 2008, then you will not receive a stimulus check this year.
For taxpayers using direct deposit the payments we be submitted as follows:
Last two SSN digits:
00 through 20 - May 2
21 through 75 - May 9
76 through 99 - May 16
For taxpayers getting regular checks your payments will be mailed as follows:
Last two SSN digits:
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
Do I Need to File a Return to get my Stimulus Check?
Yes. The IRS will automatically send out the economic stimulus checks this spring based on 2007 federal income tax returns. In order to get your check you must file a return with the IRS. Even if you do not pay taxes or have any federal tax liability, such as seniors living off of Social Security checks, you still need to file. However, if you owe past due back taxes you may not receive a check as the IRS will deduct what you owe from your rebate.