Stimulus Payment Schedule for Tax Returns

[Golf4food]

I've looked all over the IRS site and Turbo tax and can't find the answer to my question - anyone else know?:

We owed $360 extra this year so Turbo Tax didn't give us an option to enter direct deposit info when we filed a month ago - is there any way we can submit our direct deposit info now to get the rebate check DD instead of mailed? It will be over a month longer wait for the mailed dates vs. the DD dates and I'd much prefer earning interest on it over that extra month (to be used as a down payment on a vehicle in July/August)...

 

[disneychrista]

My guess and it is only a guess is no.

 

[ObsessedwiththeMouse]

Anyone know how much longer a paper check mailing will take than direct deposit? Mine would be in my account by mid-May according to the schedule with direct deposit. However, I owed this year and submitted my return before seeing the advice about including direct deposit info on the return even if you owe. So mine will be by paper check.

Here's the schedule for a paper check:

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

Even though we had direct deposit this year, we just closed our checking account that it went to, so ours will be a paper check by July 11. As soon as I saw it was by the last 2 digits of the social, I knew we were in trouble.

 

[LisaNJ25]

DH paid out $796 in federal income tax withheld and he got back the $796.

Did you try the online calculator? My guess is that you will get back $796, the same that he paid in.

 

[Disney8704]

Yeap. Tried it, and kept saying $600. Personally I dont think its fair that the only reason why we are getting less was because DH was deployed for 4 months. So thats 4 months of tax free pay. If he never got deployed, we would prob get the full $1200. Whenever DH gets deployed sure its nice to have no taxes coming out, but thats only $75 a month that he pays in taxes. I think IRS should look to see if you were deployed, how much would you have paid out in taxes if you didnt deploy, and then get that back in return. As much as DH and the rest of the military makes and all the sacrifies everyone has to make, its the least the IRS could do.

Oh and did you know why they are actually doing this whole package thing. Its help the economy - but guess in what department - electronics. President Bush basically said in a interview, that he wants people to spend their stimulus package money on electronics. Well unfortunatly for the president, our money is going to Disney.

Did you try the online calculator? My guess is that you will get back $796, the same that he paid in.

 

[LisaNJ25]

Yeap. Tried it, and kept saying $600. Personally I dont think its fair that the only reason why we are getting less was because DH was deployed for 4 months. So thats 4 months of tax free pay. If he never got deployed, we would prob get the full $1200. Whenever DH gets deployed sure its nice to have no taxes coming out, but thats only $75 a month that he pays in taxes. I think IRS should look to see if you were deployed, how much would you have paid out in taxes if you didnt deploy, and then get that back in return. As much as DH and the rest of the military makes and all the sacrifies everyone has to make, its the least the IRS could do.

Oh and did you know why they are actually doing this whole package thing. Its help the economy - but guess in what department - electronics. President Bush basically said in a interview, that he wants people to spend their stimulus package money on electronics. Well unfortunatly for the president, our money is going to Disney.

LOL mine is not going to electronics either... more than likely towards bills and stocking the fridge.

I am glad your hubby made it home safe.

 

[Jalva22]

Here's the schedule for a paper check:

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

Even though we had direct deposit this year, we just closed our checking account that it went to, so ours will be a paper check by July 11. As soon as I saw it was by the last 2 digits of the social, I knew we were in trouble.

Thanks for this!

 

[Golf4food]

Electronics is not the goal, retail anything is the goal. They want the money going to retail items that spur the economy, and paying down debt does not do so, although it is usually the best idea. Ours will be pre-paying debt as we will use ours as part of our down payment on a new (used) vehicle later in the summer. The whole electronics angle is just that many people probably will use their rebate to buy a new TV or something - big ticket items like that that they might not be able to afford otherwise. I'm guessing that most people who don't use it to pay down debt will either buy a large item (probably electronic) or go on a vacation of sorts, Disney or otherwise.

 

[pumpkinfish]

For those that owe, you can still input your bank routing info to get direct deposit.
This was taken from IRS website:

Q. If I'm not expecting a refund, should I still fill out the direct deposit line on my return so I can get my stimulus payment direct deposited?

A. Yes. Even if you aren't due a refund on your tax return, filling out the bank routing information will allow for your stimulus payment to be direct deposited.

 

[disneychrista]

For those that owe, you can still input your bank routing info to get direct deposit.
This was taken from IRS website:

But that won't help if you have already filed, I am guessing.

 

[mamalle]

thats exactly what turbo tax told me to do. I owe but will get the rebate so it asked my bank info. we do have to file by paper due to my self employment stuff but it does show up on our paperwork to file with the IRS..