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Public Policy
Written by Lateef Mauricio

Economic Stimulus Package 2008 Details

Stimulate Me. Taxpaying individuals will receive at least $600 in the form of a rebate check this May thanks to the U.S. government’s Economic Stimulus Package of 2008. This is going to cost the government $145 Billion (msnbc.com, Jan 08) . The rebate check will be delivered to about 160 million American families (cnn.com, Apr 08).


So how much will you get? When will you get it? How will you get it? The answers are here:

How much will I get? Starting in May, the Treasury will begin sending economic stimulus payments to more than 130 million households. To receive a payment, taxpayers must have a valid Social Security number, $3,000 of income and file a 2007 federal tax return. IRS will take care of the rest. Eligible people will receive up to $600 ($1,200 for married couples), and parents will receive an additional $300 for each eligible child younger than 17. Millions of retirees, disabled veterans and low-wage workers who usually are exempt from filing a tax return must do so this year in order to receive a stimulus payment. (irs.gov, Mar 08).

When will I get it? As long as you filed your taxes before April 15 you can live by this payment schedule:

DIRECT DEPOSIT

Last two SSN digits:

Payment will be transmitted:

00 through 20

May 2

21 through 75

May 9

76 through 99

May 16

PAPER CHECK

Last two SSN digits:

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

How will I get it? If you specified a bank account for direct deposit on your 2007 tax return you’ll see the money in your bank account soon enough. Otherwise, you’ll receive a traditional paper check in the mail.

Resources

Income Tax Filing – Great Site for Advice

2 thoughts on “Economic Stimulus Package 2008 Details

  • I wnat to make sure that my address was change. I mailed the IRS the address change already. And am I receiving extra for my son.

  • Well you better go onto that website link that’s in the article and check if your address is up to date. Also, you will receive $300 for each dependent child 🙂

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