OT: Annie Git Yore Gun - IRS Releases Rebate Mailing Dates

[Pete44ru]

The following information is courtesy the Detroit Free Press, which has listed the information very succinctly. Here’s how the checks will roll out:

If you file your return on time and request that your federal income tax refund is directly deposited, the stimulus payments will directly go into your bank account by May 2 if the last two digits of your Social Security number are 00-20.

If the last two digits are 21-75, the date is May 9.

If the last two digits are 76-99, it's May 16.

But if you do not use direct deposit to get your federal income tax refund – or you are paying taxes owed when you file that 2007 return – you’re going to get your tax rebate check later. The rollout times are more complicated, too.

If your last two digits of your Social Security number are 00-09, you could expect that rebate check to be mailed by May 16.

It’s by May 23 if the last two digits are 10-18.

It’s May 30 if the digits are 19-25.

It’s June 6 if the digits are 26-38.

It’s June 13 if the digits are 39-51.

It’s June 20 if the digits are 52-63.

It’s June 27 if the digits are 64-75.

It’s July 4 if the digits are 76-87.

It’s by July 11 if the digits are 88 -99, and the person did not use direct deposit of a refund this year – or if they wrote a check to cover money owed for the 2007 tax year.

Note: an email going around for several weeks gave the dates in an August - October range. The email was incorrect.

[perry owens]

I will be back in the UK by May 9th so I spent mine yesterday.

Found an oriental cousin for my original 1886.
Perry Owens

[shawn_c992001]

After buying a house last year with money from my 401K and the company not taxing it enough, I get stuck with paying 3 grand so that is where my check is going.

[meanc]

Mine just got spent today.

Winchester 94 Legacy in 44mag. Should be here by Saturday.

[AJMD429]

After buying a house last year with money from my 401K and the company not taxing it enough, I get stuck with paying 3 grand so that is where my check is going.

How did you get money out of a 401k - I thought it was STUCK there until you hit retirement age; I wanted to cash mine out and pay down/off my mortgage, and didn't mind the 'penalty' for withdrawal, but was told there was no legal way until I was 59-1/2 years old unless circumstances were 'dire' - I haven't had a paycheck since before Thanksgiving (despite working 60 hours a week) so to ME it IS 'dire' but the accountant says that isn't enough. I'd like to know what the heck is, then!

Anyway, how did you do it?

[Andrew]

I am not precisely sure what my check will go towards as of right now.

AJMD429, I was told by my company that home buying was one of the very few instances where early withdrawal was acceptable. You may have added rules in your company though that restrict your options. If you have another source of info, like a CPA, I would ask them.

[Ysabel Kid]

If I recall though, you do need to pay yourself back - with interest - into your own 401K if you borrow against it for a home loan. You just don't get the tax penalty. Same thing to pay medical bills.

I had to pay this year - as if they didn't steal enough from me all year long - so I'm either May 9 or June 27...

[Noah Zark]

The gov't spent (wasted) $ millions in March sending out a letter telling us that we'd get a 2007 tax rebate in May-June-July, something that was reported to death in the media, and available on the IRS website.

I realize that the IRS has to have the 2007 tax returns filed by 15 Apr before they can start cutting the chacks, but why didn't they just mail the rebates in May-Jun-July, and save the $$$ wasted on that notice?

Noah

[TedH]

More than likely mine will go right back to them to pay my tax bill this year. They had to tax me $3200 for that 470 Nitro the NRA gave me.

[Noah Zark]

More than likely mine will go right back to them to pay my tax bill this year. They had to tax me $3200 for that 470 Nitro the NRA gave me.

My wife is an avid fan of the Home Edition Extreme Makeover on Sunday nights, and sometimes I'll watch with her. I often wonder how the IRS treats someone getting a new furnished house given to them?

Noah

[Pete44ru]

[I often wonder how the IRS treats someone getting a new furnished house given to them?]

American Roulette.

Either the value difference, betwixt old/new, is covered by the $600,000 new home exemption (lifetime), or the difference is taxable income.

You pick one (guess which), They pick the other, you sue (maybe).

[Peter M. Eick]

Get a check?

Fat chance. Nothing for me as with the way the rules are written I don't get anything. So if you have a good job and pay a lot of taxes, you get nothing back.