Your stimulus check is on its way!

by Paul Michael on 26 April 2008 21 comments
Photo: Greggoconnell

Wow. I guess pigs may just fly after all. Because, believe it or not, the goverment is actually paying out the economic stimulus checks ahead of schedule. And that means you could get your cold, hard cash as early as Monday, depending on your SSN.

You may already have read my article outlining the amount of money you're likley to get back. If not, check it out here . Well, the original deposit schedule was outlined to begin May 2nd, as you can see from the IRS table below.

 

Direct deposit payments  
If the last two digits of your Social Security number are: Your stimulus payment should be sent to your bank account by:
00 - 20 May 2
21 - 75 May 9
76 - 99 May 16
Paper check  
If the last two digits of your Social Security number are: Your check should be in the mail by:
00 - 09 May 16
10 - 18 May 23
19 - 25 May 30
26 - 38 June 6
39 - 51 June 13
52 - 63 June 20
64 - 75 June 27
76 - 87 July 4
88 - 99 July 11

 

I paid my taxes electronically and chose the direct deposit option. And the last 2 digits of my SSN indicate that I'd be getting my money, all $1800, around May 9th. But in an unprecedented act of efficiency, it looks like the money is actually going to start getting deposited around 1 week earlier. I suspect the message is starting to hit home that out economy really, really needs that boost.

According to CNN , some 800,000 of you will actually see the money as early as Monday, April 28th. And by Friday, around 5 million rebates will have been deposited or mailed. Of course, if you filed an extension or "decided" not to pay your taxes this year, this doesn't apply to you I'm afraid.

This means that of the $110 billion dollars set aside for rebates, $50 billion will have been paid out by the end of May. Now, whether this will actually help the economy at all is another question. Some people have already said they'll just give the money straight to the credit card company, others plan to save it and, of course, a few plan to blow the whole thing. 

Personally, I'm using our stimulus check to landscape our hellhole of a backyard, which right now could be used as a set from a World War II trench. But let's just hope that the government is right...with gas skyrocketing, food prices through the roof and housing pricing in the toilet, we could certianly use some good news in this country.

Happy Monday to you folks that get the money. And for the rest of us...the wait is almost over.

 

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Guest's picture
Eric

I am guessing the stimulus has already been leaking into the economy over the past several months as people are capable of visualizing money being in their pockets, even when it won't be there for months. A wealth effect based on expectations, not the facts on the ground.

Paul Michael's picture

I have read "eats, shoots and leaves" several times. I just got sloppy this morning in my haste to spread good news. The typo is fixed.

Guest's picture
Taxman Mike

Congressman John E. Ensign--
"I cannot point to a specific place in the law where it says you must pay income taxes."

Congressman Dan Burton—
“You are correct in your assertion that the word “liability” or terminology “liability for income taxes” is not contained in any Section of the Internal Revenue Code”

Aaron Russo: "Is there a law that requires people to file a 1040?"
Congressman Ron Paul: "Not explicitly, but it's certainly implied."
Aaron Russo: "Well implied by force; but is there a law?"
Congressman Ron Paul: "I cannot cite a law, no, I cannot….you know if they think it's a law and they have all the guns; you know it's an authoritarian approach." {Taken from the movie "America: Freedom to Fascism"}

Sir Winston Churchill
"Most people, sometime in their lives, stumble across the truth. Most jump up, brush themselves off, and hurry on about their business as if nothing had happened."

Henry Kissinger
"The illegal we do immediately. The unconstitutional takes a little longer."

Guest's picture
amanda guy

Iknow it's a good thing that they are trying to do,but it really doesn't help us single mothers out here who are woking our asses off with no kind of help. My check won't be out until 7-4-08 so what good does that really do me. They went into debt just to offer these checks, so what makes everyone think that they aren't going to stick it to us in some other way. people can get excited if they want to but i'm not even going to worry about it. When the checks actually get here, it won't really help because and groceries are going to eat that money up. They tried to help but if they want to help they can try dropping gas prices instead of trying to fix the fact that the president has screwed up royally. I would rather go through 8 more years of a clinton scandal than i would with the crap we are dealing with. I do not believe that money should have went to people with such a high income they do not need that boost. They could have made it to where the who actually get dirty for a living could have come out better. It's like my dad has said they will do anything to protect the rich and spit on the poor working class. Those who get their money soon whoopity do. enjoy it for it will be gone soon enough.

Guest's picture
trac girl

I am a single working mom who just graduated nursing school and I am struggling too. I also agree that the president has royally screwed up but guess what!!!!! That's life and you sound really bitter!

Guest's picture
Guest

I really don't think you're entitled to judge, because "that's life" seems pretty friggin' cynical to me. So who's calling people bitter?

And as for "that's life", uh, no, it's not, not really. If we can have good presidents who keep the economy strong, then how is it "life" to have a bad one who wrecks the economy? Please try to make sense, and not making contradictory statements would help with making some sense.

Try to cut down on the exclamation points too. Since you've been to college, you should know basic punctuation rules. Then again, what would you expect from a **** nurse? $30 an hour to a glorified bedpan scrubber? No wonder there's something wrong with the economy.

Guest's picture
amanda guy

Iknow it's a good thing that they are trying to do,but it really doesn't help us single mothers out here who are woking our asses off with no kind of help. My check won't be out until 7-4-08 so what good does that really do me. They went into debt just to offer these checks, so what makes everyone think that they aren't going to stick it to us in some other way. people can get excited if they want to but i'm not even going to worry about it. When the checks actually get here, it won't really help because and groceries are going to eat that money up. They tried to help but if they want to help they can try dropping gas prices instead of trying to fix the fact that the president has screwed up royally. I would rather go through 8 more years of a clinton scandal than i would with the crap we are dealing with. I do not believe that money should have went to people with such a high income they do not need that boost. They could have made it to where the who actually get dirty for a living could have come out better. It's like my dad has said they will do anything to protect the rich and spit on the poor working class. Those who get their money soon whoopity do. enjoy it for it will be gone soon enough.

Guest's picture
amanda guy

Iknow it's a good thing that they are trying to do,but it really doesn't help us single mothers out here who are woking our asses off with no kind of help. My check won't be out until 7-4-08 so what good does that really do me. They went into debt just to offer these checks, so what makes everyone think that they aren't going to stick it to us in some other way. people can get excited if they want to but i'm not even going to worry about it. When the checks actually get here, it won't really help because and groceries are going to eat that money up. They tried to help but if they want to help they can try dropping gas prices instead of trying to fix the fact that the president has screwed up royally. I would rather go through 8 more years of a clinton scandal than i would with the crap we are dealing with. I do not believe that money should have went to people with such a high income they do not need that boost. They could have made it to where the who actually get dirty for a living could have come out better. It's like my dad has said they will do anything to protect the rich and spit on the poor working class. Those who get their money soon whoopity do. enjoy it for it will be gone soon enough.

Guest's picture
Lori

Has anyone received their stimulus check yet??? I thought they were going to start sending them Direct Deposit on April 28th.

Guest's picture
Lori

Has anyone received their stimulus check yet??? I thought they were going to start sending them Direct Deposit on April 28th.

Guest's picture
Lori

Has anyone received their stimulus check yet??? I thought they were going to start sending them Direct Deposit on April 28th.

Guest's picture
Guest

I should've been in the first group but still don't have my direct deposit. Perhaps because I did my taxes online using TurboTax and they use a clearinghouse bank that then deposits to my actual bank. I'm not sure what I need to do now.

Guest's picture
Guest Joyce

I had my taxes done at H&R block and picked it up there, how will I get my check?

Guest's picture
Guest Joyce

I had my taxes done at H&R block and picked it up there, how will I get my check?

Guest's picture
SHELLEY

LAST 2 OF SOC IS 14 SYAS I SHOULD CHEKC FOR 1500 I DID DIRECT DEPOSIT.. NO DEPOSIT???WISH I KNEW WHAT WAS UP..IRS WEBSITE DOESN'T TELL YOU ANYTHING

Guest's picture
Ray

I just got off the phone with the IRS (waited on hold for about an hour).....apparently, if you got direct deposit but used Turbotax, you will be getting a check....especially if you got a RAL from a 3rd party bank. The IRS did not want to deal with figuring out how to send the money to the 3rd party bank.

Guest's picture
Meg

I just saw this the other day on the IRS website... you can check the status of your rebate:

https://sa1.www4.irs.gov/irfof/IRServlet?app=IRACTC

Hope this helps!

Guest's picture
Guest

My husband only made $16,580.00 last yr. I don't work. How much will we get back?? I was told $300. $600. and $1200. Which one is true?? Can anyone help me find out?? Thank you.1

Guest's picture
C.Sykes

The "stimulus" rebate may have a slight beneficial effect on the economy, but it won't last long and it will do nothing to fix the underlying causes of our national financial woes and may actually make things worse.

This rebate is basically just another charge on the national credit card. The really frightening thing is not just that our federal debt is so huge (and has been increased by this rebate) but also that, for the first time, we owe so much of it to foreign countries. Always before, the majority of our Treasury notes were sold to American companies, institutions and the American people. (If you're a certain age, you may remember the now-quaint pitches to buy U.S. savings bonds.) Now, China owes 25% of our debt and Japan slightly more. The United States has gone from being the world's biggest creditor nation (we had money to loan) to being the world's biggest debtor nation.

If we keep on this way, we are heading for a crash that will make the Great Depression look like a summer day at Disneyland....

C.Sykes
moneytospare.net

Guest's picture
dontrease

I WISH IT WOULD BECAUSE IM BROKE DISCUSTED AND CANT BE TRUSTED I NEED SOME CHA-CHING IF YA KNOW WHAT I MEAN. U YES U SINGLE MOM STOP WORRYING SO MUCH ABOUT WHAT THE PAST PRESIDENTS R DOING YOUR WASTEING YOUR TIME. PUT YOUR FAITH IN GOD NOT MAN.IF U BELEIVE,I HOPE.