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The Administration and Congress have agreed to an
economic growth package that would provide advance payments
to many Americans. More details will be available soon, but
here are some highlights:
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Starting in May, the Treasury will begin sending
stimulus payments to more than 130 million individuals.
The stimulus payments will go out through the late
spring and summer.
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The vast majority of people receiving a payment only
need to file a 2007 tax return as they normally would.
The IRS will then do all the rest, including determining
eligibility and payment amounts.
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The Treasury will work to quickly implement this
important stimulus package. Additional details on timing
of the check mail-outs will be available soon.
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The IRS.gov Web site will be the best source of
information for all stimulus questions. This web page
will contain all the latest information as it becomes
available.
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The IRS and Treasury will be working closely with
the Department of Veterans Affairs and Social Security
Administration along with beneficiary organizations to
ensure that all eligible individuals know what to do to
receive a stimulus payment.
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Stimulus Payment Schedule for Tax Returns
Processed by April 15
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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
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Last two SSN digits:
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Payment will
be transmitted:
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00 through 20
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May 2
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21 through 75
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May 9
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76 through 99
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May 16
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PAPER CHECK
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Last two SSN digits:
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Payments will be mailed
by:
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00 through 09
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May 16
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10 through 18
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May 23
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19 through 25
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May 30
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26 through 38
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June 6
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39 through 51
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June 13
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52 through 63
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June 20
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64 through 75
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June 27
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76 through 87
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July 4
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88 through 99
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July 11
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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. See
the
online calculator for an estimate of the
amount you will receive.
A small percentage of tax
returns will require additional time to
process and to compute a stimulus payment
amount. For these returns, stimulus payments
may not be issued in accordance with the
schedule above, even if the tax return was
processed by April 15.
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Information on Rebate Scams
Taxpayers should be aware that there are identity
theft scams involving the proposed advance payment checks,
known informally as rebates to many Americans. The IRS knows
of at least one telephone scam making the rounds which uses
the proposed rebates as bait.
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