Stimulus Rebate Checks Deposited Overnight

The first round of stimulus payments from the IRS was direct deposited overnight in taxpayer accounts. This is a small sign of relief this week with gas prices consistently rising week after week. The payments are earlier than expected. The payments will be sent out in order of the last two digits of consumer's social security number. On a jointly filed return, the first Social Security number listed will determine the mail-out time. Although this payment schedule is for people consumers who filed a tax return by April15. Consumers that missed that deadline or normally do not file a tax return my also be eligible for a stimulus payment. Select direct deposit it will help you get your payment faster. The Associated Press reports that the IRS intends to deposit 800,000 checks over an initial three day period. No direct deposits will be made on Thursday.

Seniors that receive Social Security benefits, Veterans Affairs, and Railroad Retirement are also eligible for the economic stimulus payment. The Internal Revenue Service mailed out an additional form to explain how to fill out the 1040 A form in order to claim the stimulus payment. For more information on filing a return and checking your income eligibility requirements please visit www.irs.gov. If you filed your taxes using tax software such as Turbo Tax, log back into their website. They have updated details on the rebate and could give you a possible estimate based upon you tax return.

The requirements are outlined simple for taxpayers to understand. One simple restriction that could apply to quite a few taxpayers is if you were claimed on someone else taxes as a dependent you are not eligible for the Stimulus payment. This restriction could deny some college students that work part-time jobs while enrolled in college, but their parents still claim the students as dependents on their tax returns.

Stimulus Payment Schedule for Tax Returns Received and Processed by April 15

Direct Deposit Payments:

If the last two digits of your Social Security number are: Your economic stimulus payment deposit should be sent to your bank account by:

00 - 20 May 2
21 - 75 May 9
76 - 99 May 16