Check’s in the mail…
According to CNN.com, the federal government on Monday started depositing checks into the bank accounts of 800,000 Americans in the first installment in a weeks-long effort to boost the economy. These stimulus checks will be distributed to most tax-paying Americans. The U.S. Treasury will distribute more than $110 billion to 130 million taxpayers by July.
The government hopes to stimulate the economy by putting some extra cash in people’s pockets. Like you, I’m counting the days until my cash flow gets stimulated by the government. And, also probably like you, I’m wondering exactly how long I’ll have to wait before said stimulation shows up in my mail box.
According to the CNN article, the order in which tax filers will receive their rebates will be based on the last two digits of their Social Security numbers, when they filed their ‘07 tax forms and whether they opt for direct deposit. The Treasury Department said it hopes to get the first $50 billion out by the end of May. People who use direct deposit will get their payments soonest. By the end of next week, checks will have been deposited into the bank accounts of 7.4 million people. Most people will get their payments by July 11.
Sounds like a good way to start the summer…
April 29th, 2008 at 1:38 pm
i am glad i filed my taxes early and had my refund direct deposited. my stimulus check will be here sooner than if i hadnt. since they are sending them out according to social security numbers, mine is scheduled to be in my savings account next week. how long it stays in savings is another story!