May
6
It seems a lot of people still have questions about how the amount of the stimulus payment is determined. The IRS provides a calculator on it's web site. So it's easy to find out how much should should get, but it's not so easy to see why you are getting that amount.
The IRS Stimulus Payment Calculator
You can find the IRS stimulus payment calculator here. Remember, this calculator only provides an estimate of your stimulus payment.
Because this …
Comment by Chris: … If you filed taxes and you qualified, you should get …
May
5
I've received several questions about the possibility of a second economic stimulus package. Many people want to know if it's true or just a rumor. Here's what we know right now.
The "First" Economic Stimulus Package
The Economic Stimulus Package was passed by Congress in early 2008. Among other things, it mandates direct cash payments to US citizens who've met a certain level of income and have paid taxes for the 2007 tax year.
In May of 2008 the IRS …
Comment by julie: … about the second stimulus package and it does not …
May
3
IRS Economic Stimulus Payment Article Index
May 3, 2008 | 9 Comments
There is a lot of confusion and no shortage of questions about the IRS economic stimulus payment. I'm try to keep up with the questions but it's become a full time job. This article is an index of the important links related to the stimulus payment.
Too Many Questions
At first I tried to answer every question. However, due to the sheer number of stimulus payment questions, this became a full time job. I simply can't answer every question from readers. Instead, I've …
May
1
IRS Where's My Stimulus Payment Web Page
May 1, 2008 | 216 Comments
The IRS has created a new web page to help you track the status of your stimulus payment. This should help answer a lot of those "where's my stimulus payment" questions.
The web page is located on the IRS web site. Here is the link to the Where's My Stimulus Payment? page.
You will need 3 pieces of information to track your stimulus payment. You need your social security number, your filing status (single, joint, etc) and you need to know the number …
Comment by Chris: …
Apr
30
Economic Stimulus Payment - Child Support Questions
April 30, 2008 | 244 Comments
Many questions about the Economic Stimulus Payment keep coming up. Some of the most common involve child support. The questions fall into two categories: owing and receiving child support.
If You or Your Spouse Owes Child Support
The IRS will withhold your payment up to the full amount, if you owe back child support. If you file a joint return and one spouse owes child support the IRS can withhold the entire tax …
Comment by Anonymous: … to send WEEKLY payments #1 he wouldn't fall behind and …
Apr
30
TurboTax Direct Deposit Stimulus Payment Questions
April 30, 2008 | 278 Comments
Due to the large number of questions regarding direct deposit tax refunds, the economic stimulus payment and TurboTax, I've written another article dedicated to TurboTax questions.
What is TurboTax?
Many people file their taxes with TurboTax. I've always used TaxCut by H&R Block but I'm sure the services are very similar. TurboTax is software that you can use either on your desktop (you bought it at BestBuy or Wal Mart and installed it …
Comment by Bob Meighan: … in your 2007 tax return. So it should not make any …
Apr
29
IRS Stimulus Payment Rebate Calculator
April 29, 2008 | 35 Comments
I’ve told a lot of readers with questions about the economic stimulus payment to use the IRS Economic Stimulus Payment Calculator. Specifically the payment calculator should tell you if you qualify for the stimulus payment and the amount of the stimulus payment you will receive. I decided I should try the calculator myself and see if I qualify and how much I will get.
Using the Stimulus Payment Calculator
The IRS Economic Stimulus Payment …
Comment by B: … longer now, just for them to resend it…uhh Thanks
Apr
28
Bush Announces Faster Payment Schedule for Stimulus Payments
April 28, 2008 | 347 Comments
President Bush announced that stimulus payments will be issued faster than previously announced. Tax filers who chose direct deposit can start receiving their payments as soon as April 28th.
I've updated the payment table from my original article on the stimulus payments below. You'll notice that the last payment coincides with the Independence Day holiday, a coincidence I'm sure.
Direct Deposit …
Comment by Chris: … is the "Where's My Stimulus Tool" on the IRS website: …
Apr
17
IRS Stimulus Payment - Questions and Answers
April 17, 2008 | 411 Comments
I’m still surprised by the number of questions readers have been asking about the economic stimulus payment. Here are a few of the most frequently asked questions with answers. As always, if you have a question, make sure you ask it in the comments section following the article.
Can I Change my Direct Deposit Information?
The IRS says that you can only change your direct deposit information before the week of April 13th. That means if you are reading this it’s already too …
Comment by Jesse Davis: I used the Taxpayer Advocate Service to good …
Apr
14
IRS Stimulus Payment: Direct Deposit Questions
April 14, 2008 | 214 Comments
You have to fill out the direct deposit section on the tax return to get the stimulus payment directly deposited.
Q. Can I have my Stimulus Payment direct deposited?
A. Stimulus Payments will be direct deposited for taxpayers who select that option when filing their 2007 tax returns. Taxpayers who already filed and requested direct deposit won't need to do anything else to receive the Stimulus Payment. Taxpayers who did not request Direct …
Comment by faithe heitzman: … will not receive a stimulus check. Anyone on ssa or ssd …