Tax Refund Info - 2008
* Please consult your tax advisor for legal tax advice. *
Our federal government is hoping to spur additional economic growth and therefore starting in May, the Treasury will begin sending economic stimulus payments to over 130 million qualified households. To receive a payment, taxpayers must:
1 - have a valid Social Security number
2 - have $3,000 of reported income
3 - file a 2007 federal tax return.
Eligible
people will receive up to $600 ($1,200 for married couples), and
parents will receive an additional $300 for each eligible child younger
than 17.
Note:
Millions of retirees, disabled veterans and low-wage workers who
usually are exempt from filing a tax return must do so this year in
order to receive a stimulus payment.
PAYOUT SCHEDULE
Economic
stimulus payments will be issued according to the last two-digits of
the main filer's Social Security number. People who use direct deposit
also will be among the first to receive the payments starting May 2.
Paper checks will be put in the mail starting May 16.
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 |
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
this year.
ADDITIONAL RESOURCES
The IRS Economic Stimulus Payments Information Center website provides extensive information regarding the stimulus payment, including:
Source: IRS Website - http://www.irs.gov/newsroom/article/0,,id=177937,00.html
- other
Brian Pakulla
Pakulla Properties - RE/MAX Advantage
#1 RE/MAX Team in Central Maryland
410-579-MOVE (6683)
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