Wednesday, March 19, 2008

THE STIMULUS REFUND DATES ARE NOW SET

The first rebates will be wired on May 2 to taxpayers who had their 2007 refunds deposited directly to their bank accounts. The IRS will finish wiring these rebates by May 16. The order depends on the last two digits of the Social Security number of the primary filer...the lower the number, the quicker the payment.

Paper checks will start going out May 16 as well to nondirect depositors, based again on the last two digits of their Social Security numbers. The initial round of mailouts will be completed by July 11. Of course, if any back taxes are owed, the Service will grab a filer's rebate.

Returns must be filed by April 15th or you go to the back of the line.