The Check Is In The Mail

[+ imagooddog]

Have any of you received the incentive-to-spend check that

Mr. Bush is having sent to the American people? I always

file my income tax with a refund being directly deposited to

my bank account. So far, no deposit from the federal government

has appeared. Any input on this????

[Scorpio]

Are you asking when you'll receive your refund or when you'll receive your stimulas payment?

 

If you filed your tax return by mail, it can take 6-8 weeks from the date the IRS receives your return before your refund is processed. So the question would be when did you file your tax return? If you filed your return electronically, you should receive your refund within 3 weeks.

 

If you're concerned about your Stimulas Payment, then the question is are you sure that you are entitled to a stimulas payment. The way the media has covered this story most people are under the impression they will receive $600, which is not the case. If you're single and your adjusted gross income was greater than $75,000, it's possible you're not entitled to a stimulas payment. Your eligilbity begins to phase-out at this amount and is generally completely phased out if your adjusted gross income was greater than $87,000.

 

Here's a link a payment schedule for the stimulas payments. The schedule only applies to returns that were processed by April 15. If your return was processed after April 15th, the stimulas check will follow about two weeks after you receive your refund check.

 

http://www.irs.gov/irs/article/0,,id=180250,00.html

[ariadne1880]

You are almost correct. It's not about "adjusted gross income" it's about "earned income." If you income is solely from, say, alimony, it's not "earned income" so you are not eligible for a stimulus payment.

 

In order to be eligible you have to have some sort of earnings that qualify.

 

Mark

[Scorpio]

Actually you're incorrect. The basic stimulas payment is not about "earned income". It's ultimately about tax liability. If you're a person that generally doesn't have a tax liablity (for instance low-income individuals or retirees receiving only social security benefits), then it is about having "qualifying income" in order to be eligible. "Qualifying income" would be wages, earnings from self-employment and/or social security benefits and you must have at least $3000 of "qualifying income" to be eligible. You can verify what I said here:

 

http://www.irs.gov/newsroom/article/0,,id=179181,00.html

 

However, to use you example, a single person receiving nothing more than alimony would "generally" be entitled to a stimulas paymnet of $600 provided said person had a tax liabliity greater than or equal to $600 and their adjust gross income did not exceed $75,000. So a single person receiving $75,000 in alimony (with no other income or adjustments) and using the standard deduction would have a tax liability of $12,993 and would "generally" be entitled to a stimulas payment of $600. I used the tax software in my office to verify this.

 

If you'd like to verify it for yourself, use the IRS calclulator:

 

http://www.irs.gov/app/espc/

[ariadne1880]

Actually, you are incorrect. For purposes of the stimulus payment alimony doesn't qualify as "income."

 

I know. I get alimony. It is not eligible and the IRS has already ruled so in my case so, therefore, I don't care what the instructions say or claim ... as is often the case, reality is much different from the instructions.

 

Alimony is not "qualifying or earned" income. Period.

 

Mark

[+ imagooddog]

Sorry, I should have been more clear on this question.

I am NOT talking about my tax refund check. I filed in

early February.

I am refering to the Stimulas package check. According to

my CPA who does my taxes, I should receive a check for $300.

I know thats not much, but every little bit helps !!

Has anyone received a stimulas package check ??

[+ Charlie]

I received my $600 stimulus by direct deposit into my checking account yesterday.

[+ Hoover42]

I've heard the stimulus checks are being printed in social security number order.

 

If that's true then folks on East coast should get their checks first.

 

...Hoover

[Scorpio]

>I've heard the stimulus checks are being printed in social

>security number order.

>

>If that's true then folks on East coast should get their

>checks first.

>

>...Hoover

 

Check the link in my first post. The payment schedule is listed there.

 

It is based on Social Security numbers but only on the last 2 digits, which unlike the first 3 digits have no geographical significance.

[+ Hoover42]

Ah! Terminal digit order. OK, thanks for the clarification.

 

...Hoover

[Guest zipperzone]

>Actually, you are incorrect. For purposes of the stimulus

>payment alimony doesn't qualify as "income."

>

>I know. I get alimony.

 

Now isn't this little tid-bit of information interesting! Here's a man (we presume) who claims to have been in the music business for 25 years which should ensure a decent income - and he receives and takes alimony payments? Sounds like a bloodsucker to me. Some people just never fail to amaze!

[edjames]

Some info on the dates the "checks" will go out:

 

If the last two digits in your Social Security number fall within the following ranges, you can expect your rebate check by the following dates:

 

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

 

Timetable for E-Filers:

Taxpayers who signed up to direct deposit their tax rebates get their money sooner than those who chose to be mailed a check. By now, in fact, most of the 45 million or so electronically deposited rebates should have arrived in taxpayers' bank accounts. The final batch -- billions of dollars for taxpayers whose Social Security numbers end in 76 through 99 -- is supposed to be sent no later than May 16.

 

Good luck!

[edjames]

Taxpayers who signed up to direct deposit their tax rebates get their money sooner than those who chose to be mailed a check. By now, in fact, most of the 45 million or so electronically deposited rebates should have arrived in taxpayers' bank accounts. The final batch -- billions of dollars for taxpayers whose Social Security numbers end in 76 through 99 -- is supposed to be sent no later than May 16.

 

If the last two digits in your Social Security number fall within the following ranges, you can expect your rebate check by the following dates:

 

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

 

ED

[Guest Fisher]

I don't understand how the IRS has "ruled" on

your potential stimulas rebate, as the payments

have just begun (IRS does not move that fast);

moreover, the requirements are fairly straight

forward,simple, and not subject to interpretation

or rulings.

 

The requirements are:

- You have to file a 2007 tax return.

- You cannot be claimed as a dependent.

- Your AGI has to be under the phase-out amount.

- You have to have a tax liability*

 

* only if you do not have a tax liability, THEN

you have to have earned income (wages/ self employment)

or other qualifying income (social security/

certain veteran benefits) of at least $3000.

 

If you meet the above requirements, you will get

the rebate. The only reason you would not is if

you had an IRS or FMS offset meaning you owed money

to the government (such as defaulted student loans,

back child support, prior years tax liability -

either federal or state) then your rebate would

most likely go to satisfy those claims

 

Regarding alimony, it depends on where you fall

under the above rules:

 

If you are single and under 65 and you received

$8000 of alimony. You would not have a tax liability

and you would not receive a rebate.

 

If you are single and under 65 and you received $8000

of social security. You would not have a tax liability

but you do have qualifying income; therefore, you would

receive a rebate of $300.

 

If you are single and under 65 and you received $18,000

of alimony.You would have a tax liability greater than

$600 and you would receive a rebate of $600.

 

Unfortunately my rebate will not help the US economy. I

leave for Brazil on Sunday. It will go into the hands of

a sexy Rio sauna boy - - - oh well it will still be

a "stimulas" package :7

 

Tchau,

 

Fisher

[RM]

Many think they will get a direct deposit refund, but they will receive a check. Those who filed amended returns before the stimulus payment will receive a check after the amended return is processed. Most of those who received a "direct deposit" through a tax service will receive a check. If your return is audited before the stimulus payment is issued, you may receive a check when the audit is completed. If you had direct deposit into two accounts, the stimulus payment will be a check. If you made a mistake on your tax return, correcting the mistake will not correct the stimulus payment. If you are a life insurance agent filing as a statutory employee, don't expect to get a stimulus payment for a long, long time.