Stimulus Payment Schedule
#1
03-22-2008, 01:06 PM
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Stimulus Payment Schedule
Looks like I will get it May 9th dont know what to spend it on... yet!
http://www.irs.gov/irs/article/0,,id=180250,00.html
Stimulus Payment Schedule for Tax Returns Processed by April 15 [align=left]
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.[/align]
DIRECT DEPOSIT Last two SSN digits:
Payment will betransmitted:
00 through 20 May 2
21 through 75 May 9
76 through 99 May 16
PAPER CHECK Last two SSNdigits:
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 [align=left][/align] [align=left]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 calculatorfor an estimate of the amount you will
receive.[/align]
http://www.irs.gov/irs/article/0,,id=180250,00.html
Stimulus Payment Schedule for Tax Returns Processed by April 15 [align=left]
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.[/align]
DIRECT DEPOSIT Last two SSN digits:
Payment will betransmitted:
00 through 20 May 2
21 through 75 May 9
76 through 99 May 16
PAPER CHECK Last two SSNdigits:
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 [align=left][/align] [align=left]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 calculatorfor an estimate of the amount you will
receive.[/align]
#3
03-22-2008, 03:24 PM
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03-22-2008, 03:54 PM
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03-22-2008, 04:08 PM
#9
03-22-2008, 04:16 PM
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RE: Stimulus Payment Schedule
$600 to 1200 for married with possibility of $300 per child
$300 to 600 for single
Answers to Frequently Asked Questions
http://www.irs.gov/newsroom/article/...179181,00.html
Q. I want to estimate my payment. Please explain how it is figured. A. Essentially, there are two parts to the stimulus payment: a basic amount based on tax liability, filing status or other qualifying factors if there is no tax liability and an additional amount based on whether a qualifying child is reported on the return. Basic Amount of Payment: Taxpayers who had a net income tax liability will receive a payment, unless they can be claimed as dependents on someone else’s return, are high-income individuals or do not have a valid Social Security Number. The payment is equal to the taxpayer’s net income tax liability, but no more than $600 for a single person or $1,200 for a married couple filing a joint return. The minimum payment is $300 for a single person or $600 for a married couple filing jointly. People with no net income tax liability will usually get a minimum payment of $300 for a single person or $600 for a married couple filing jointly, as long as they have qualifying income of at least $3,000. To figure your qualifying income, add together the following amounts: [ul][*] Wages that are reported on Form W-2.[/align][*] Net self-employment income.[/align][*] Social Security benefits reported in box 5 of the 2007 Form 1099-SSA, which would have been received in January 2008. People who do not have a Form 1099-SSA may estimate their annual Social Security benefit by taking their monthly benefit and multiplying it by the number of months during the year they received the benefit.[/align][*] Certain Railroad Retirement benefits reported in box 5 of the 2007 Form 1099-RRB, which recipients would have received in January 2008.[/align][*] Veterans’ benefits received in 2007, including veterans’ disability compensation and pension or survivors’ benefits received from the Department of Veterans Affairs. People who weren’t required to file a tax return can estimate their annual veterans’ benefits by taking their monthly benefit and multiplying it by the number of months during the year they received the benefit.[/align][*] Nontaxable combat pay if the taxpayer elects to include it as earned income.[/align] [/ul]Extra Money for Qualifying Child: Eligible taxpayers who qualify for a payment may receive an additional $300 for each qualifying child. To qualify a child must be under age 17.
Q: I normally don't need to file a tax return. How do I know if I'm one of those people who may be eligible to receive an economic stimulus payment?
A: This group includes some recipients of Social Security, Railroad Retirement or veterans' benefits as well as taxpayers who do not make enough money to normally have to file a 2007 tax return. For example, this can include low-income workers, those who receive Social Security benefits or veterans’ disability compensation, pension or survivors’ benefits from the Department of Veterans Affairs in 2007. These people will be eligible to receive a payment of $300 ($600 on a joint return) if they had at least $3,000 of qualifying income.
Qualifying income includes Social Security benefits, certain Railroad Retirement benefits, certain veterans’ benefits and earned income, such as income from wages, salaries, tips and self-employment. For people filing joint tax returns, only a total of $3,000 of qualifying income from both spouses is required to be eligible for a payment.
$300 to 600 for single
Answers to Frequently Asked Questions
http://www.irs.gov/newsroom/article/...179181,00.html
Q. I want to estimate my payment. Please explain how it is figured. A. Essentially, there are two parts to the stimulus payment: a basic amount based on tax liability, filing status or other qualifying factors if there is no tax liability and an additional amount based on whether a qualifying child is reported on the return. Basic Amount of Payment: Taxpayers who had a net income tax liability will receive a payment, unless they can be claimed as dependents on someone else’s return, are high-income individuals or do not have a valid Social Security Number. The payment is equal to the taxpayer’s net income tax liability, but no more than $600 for a single person or $1,200 for a married couple filing a joint return. The minimum payment is $300 for a single person or $600 for a married couple filing jointly. People with no net income tax liability will usually get a minimum payment of $300 for a single person or $600 for a married couple filing jointly, as long as they have qualifying income of at least $3,000. To figure your qualifying income, add together the following amounts: [ul][*] Wages that are reported on Form W-2.[/align][*] Net self-employment income.[/align][*] Social Security benefits reported in box 5 of the 2007 Form 1099-SSA, which would have been received in January 2008. People who do not have a Form 1099-SSA may estimate their annual Social Security benefit by taking their monthly benefit and multiplying it by the number of months during the year they received the benefit.[/align][*] Certain Railroad Retirement benefits reported in box 5 of the 2007 Form 1099-RRB, which recipients would have received in January 2008.[/align][*] Veterans’ benefits received in 2007, including veterans’ disability compensation and pension or survivors’ benefits received from the Department of Veterans Affairs. People who weren’t required to file a tax return can estimate their annual veterans’ benefits by taking their monthly benefit and multiplying it by the number of months during the year they received the benefit.[/align][*] Nontaxable combat pay if the taxpayer elects to include it as earned income.[/align] [/ul]Extra Money for Qualifying Child: Eligible taxpayers who qualify for a payment may receive an additional $300 for each qualifying child. To qualify a child must be under age 17.
Q: I normally don't need to file a tax return. How do I know if I'm one of those people who may be eligible to receive an economic stimulus payment?
A: This group includes some recipients of Social Security, Railroad Retirement or veterans' benefits as well as taxpayers who do not make enough money to normally have to file a 2007 tax return. For example, this can include low-income workers, those who receive Social Security benefits or veterans’ disability compensation, pension or survivors’ benefits from the Department of Veterans Affairs in 2007. These people will be eligible to receive a payment of $300 ($600 on a joint return) if they had at least $3,000 of qualifying income.
Qualifying income includes Social Security benefits, certain Railroad Retirement benefits, certain veterans’ benefits and earned income, such as income from wages, salaries, tips and self-employment. For people filing joint tax returns, only a total of $3,000 of qualifying income from both spouses is required to be eligible for a payment.
#10
03-22-2008, 04:16 PM
RE: Stimulus Payment Schedule
Singles Determine Eligibility:
If you earned less than $3,000 - unfortunately you’d get nothing.
If you earned more than $3,000 but paid no taxes, you’d get $300.
If you earned more than $3,000 and paid taxes, you get $600.
If you have children, add $300 per.
Determine Phaseout Reduction:
The phaseout levels begin at $75k and end at $87k, at a reduction of 5% per $1,000 over the lower limit. If you earn above $87k, you’re over and thus get nothing regardless of the math. Couples Determine Eligibility (appears to be the same as singles):
If you earned less than $3,000 - unfortunately you’d get nothing.
If you earned more than $3,000 but paid no taxes, you’d get $600.
If you earned more than $3,000 and paid taxes, you get $1,200.
If you have children, add $300 per.
Determine Phaseout Reduction:
The phaseout levels begin at $150k and end at $174, at a reduction of 5% per $1,000 over the lower limit. If you earned above $174k, you’re over and thus get nothing regardless of the math.
If you earned less than $3,000 - unfortunately you’d get nothing.
If you earned more than $3,000 but paid no taxes, you’d get $300.
If you earned more than $3,000 and paid taxes, you get $600.
If you have children, add $300 per.
Determine Phaseout Reduction:
The phaseout levels begin at $75k and end at $87k, at a reduction of 5% per $1,000 over the lower limit. If you earn above $87k, you’re over and thus get nothing regardless of the math. Couples Determine Eligibility (appears to be the same as singles):
If you earned less than $3,000 - unfortunately you’d get nothing.
If you earned more than $3,000 but paid no taxes, you’d get $600.
If you earned more than $3,000 and paid taxes, you get $1,200.
If you have children, add $300 per.
Determine Phaseout Reduction:
The phaseout levels begin at $150k and end at $174, at a reduction of 5% per $1,000 over the lower limit. If you earned above $174k, you’re over and thus get nothing regardless of the math.