We have been telling you the economic stimulus rebate checks are on their way but for some folks who should have had them by now are still waiting!
Uncle Sam wanted to help you out with the high cost of living by mailing you a rebate check and with gas and grocery prices sky-high some people can't afford to wait any longer. Unfortunately a glitch in the system is causing a slow-down.
Here's how it was supposed to work - if you received or paid a tax refund electronically for your 2007 tax return, then the rebate check should have been sent to you the same way and ahead of everybody else. But here's the catch if you used a program like turbo tax or a tax preparer like H&R Block, they charged you a fee. If you and opted to deduct the fee from your tax refund your return was handled by a third party bank.
The problem with is that the IRS doesn't have your bank information, that third party bank does. Now the IRS can't direct deposit your rebate check.
you'll have the same problem if you opted for "accelerated refunds" and "refund anticipation loans" because those were also handled by third party banks.
The bottom line? Some people who should have been getting the checks directly deposited this month will instead get a paper check in the mail sometime in June or July.
Check this IRS Web site: Stimulus Payment Schedule www.irs.gov/irs/article/0,,id=180250,00.html
To learn the status of your rebate, visit this IRS site: Where's My Stimulus Payment? https://sa2.www4.irs.gov/irfof/IRServlet?app=IRACTC>
Use this online tool to learn when you will receive your rebate and how much it will be. However, there's another catch. The IRS says that information about your payment won't be available until about a week before your rebate is scheduled to be issued. Refer to the schedule above.
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NITESTARR101
May 9, 2008 | 10:56 PM |
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yoyom
May 10, 2008 | 4:42 PM |
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Michelle is an Emmy-award winning journalist and consumer reporter for the Real Deal on Fox 29 News.
Member Since: 3/7/2007