The first wave of rebate payments will be direct deposited today. You can check the revised payment schedule here.
It will be interesting to see how the market reacts – if at all – to the anticipated buoyed spending.
Of course, as President Bush has now acknowledged that most folks will spend the rebates on necessities such as food and gasoline, it seems that the stimulus package has become more of a “rescue package.” Most of my readers had previously indicated that they would spend the money to pay down debt – that was before the price of oil shot up.
Is anyone spending the money for the sake of spending the money? It’s today’s poll – vote and leave your comments below.
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I’m pretty sure most people will be like me–paying all the bills that have fallen behind because it costs me $140 to fill my Suburban. That was before I just saw my local gas station change prices to $3.65 a gallon! Food and gas are skyrocketing–but no one is seeing an increase in their paychecks to help keep up. 🙁
I am reminded of the scene in the new Chimpmunks movie where Alvin gives Dave Dave’s own wallet as a Christmas gift. I think I will use my rebate to start saving for my own political campaign fund because it is obvious that middle Americans like myself are supporting way too many fat cat politicians and their latest social programs. TIRED OF IT!!!!!!
I am going to buy a freezer and stock pile food. Buy fabric and make my daugther summer clothes. Save the rest.
Ii I receive a rebate check ( I won’t believe it till I see it) I am going to save it until I find a job. Then I plan on using it for some summer classes at my local community college, so I can obatin a reccesion proof career.
how long do we wait before we complain about not receiving a check and who do we call.
It was my understanding that rebate checks would be “direct deposited” (for those who DD their tax refund). Also, that those with the correct SS # would have received their rebate May 2. I fall into that category, however, no rebate. While I am not a tech-whiz…it is my understanding that “electronic transfer” means one would GET money as QUICKLY as it is deducted from ones account….just wondering where the $ is sitting — and who is getting the interest it is collecting????
I’m wondering the same thing as Deborah. My SS# is right in the middle of the group that was supposed to have theirs deposited by 5/2, I filed in the second week of March and my refund was deposited by the end of March, so I must have been processed before 4/15, but nothing so far.
My husband and I filed with Turbo Tax direct deposit and was told by the IRS (when we called) we would be getting a paper check in the mail. This is due to the fact that our refund was sent to SBBT first before being direct deposited. He also said that they have already began to mail out the checks and we could see ours in 7-10 days. Last ss# is 15.
I filed with Turbo Tax as well – with the understanding that my refund would be DD to MY account…however, there was a “problem” and my tax refund went thru a bank in california – who then charged me a FEE!?!?!?!…BEFORE it was deposited into my account……so filing with Turbo Tax was a mistake???…and will cause a delay on the rebate???…………….
Thanks, Jamie – that probably explains mine. They should have made this clear. To me, direct deposit is direct deposit, and I went to TurboTax through the IRS site. I wonder how many other people are panicking, thinking that there’s been some mixup.
This bit of information about SBBT was not disclosed to millions of Americans. I have received comments from people that had already paid mortgages and pre-paid for vacations with the anticipation of receiving DD according to the IRS web-site schedule. This has resulted in bounced checks as well as returned check fees.
I advise everyone to check their bank statements for the institution that deposited their normal tax refund. If the deposit was RALDEPT then it was a third party deposit. You will receive a paper check. If the deposit was U.S. Treasury then it will be DD.
” I would rather have a check in hand than flip the bird to the Bush ”
Good Luck To All
Filing with Turbo Tax means your money went to the Santa Barbara Bank and Trust before it came to your bank (and yes they charge a fee). That’s why the IRS can’t deposit it into your bank because Santa Barbara Bank and Trust has your bank account info. not the IRS. So you (like me) will get a paper check in the mail. 🙁
Jamie – thanks for the info…guess i — or no I WILL READ ALL THE FINE PRINT IN THE FUTURE…..go figure……………….
It’s pretty sad that there is still nothing on the IRS website about this. In fact, it says, “The last two-digits of your Social Security number and whether you opted for direct deposit into your financial account or a paper check will determine when you receive your payment.” There are only two options there, a paper check or direct deposit, and I’m pretty sure that SBBT did not get a paper check. Why am I not surprised that the government even screwed up implementing this not-too-bright idea?
I was unaware until just recently that if you paid your tax prep fees right out of your refund and not upfront, then they will send you a check, even if your taxes were DD.
WELL IT’S PERFECT