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Nancy Pelosi stands next to an over-sized economic stimulus check.
STIMULUS CHECKS
ECONOMY

Is Your Tax Rebate On The Way?

Some Stimulus Rebates To Be Deposited Monday

POSTED: 9:06 am EDT April 28, 2008
UPDATED: 8:48 pm EDT April 28, 2008

Those long-promised tax rebates are now on their way to U.S. taxpayers.

People who chose to have their rebates directly deposited into their bank accounts will see the money there beginning Monday. The government's paper checks will start going out on May 9, a week earlier than previously announced. To see the complete schedule, click here.

The checks will be distributed by the last two digits of the tax filer's Social Security number. The first group scheduled to get their rebates have Social Security numbers ending in 00 through 20.

The first round of paper checks will be to Social Security numbers 00 through 09.

The extra cash is part of the economic stimulus package intended to help Americans cope with rising gasoline and food prices, as well as aid a slumping economy.

The Internal Revenue Service says all checks for those who filed tax returns on time are scheduled to be deposited or mailed by July 11.

President George W. Bush announced last week that the rebates would go out a bit earlier than expected.

"I'm pleased that the Treasury Department has worked quickly to get the money into the hands of the American people," Bush said. "This money is going to help Americans offset the high prices we're seeing at the gas pump and at the grocery store, and it will also give our economy a boost to help us pull out of this economic slowdown."

The rebates range from $300 to $1,200 and are the centerpiece of the government's $168 billion economic stimulus package, enacted in February. Roughly 130 million households are expected to get them.

Taxpayers must file an income tax return to be eligible for the rebates, and, Bush said, it's not too late to do so.

"If you've already filed your income tax return, your rebate is on the way," he said.


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