The government had a lot of motivation to get the stimulus package moving, and as a result are going to be a few days ahead of schedule for the first distribution of the checks.
Instead of starting on the week of May 2, the program will begin on April 28.
U.S. Treasury Secretary Henry Paulson said, "We will start a bit earlier. We're a little bit ahead of schedule, so we will start right on Monday with direct deposits."
As Paulson said, this is related to those receiving direct deposits specifically, as computers were ready sooner than expected. Paulson projects the early payments will help bring about $50 million more into the U.S. economy by the end of May.
All payments on the original schedule should arrive about a week earlier than planned.
Those who will be receiving paper checks in the mail will start receiving their checks about three weeks later than those with direct deposit, as checks will begin to be mailed out on May 16. Direct deposit money should have arrived by then.
The direct deposit schedule has been changed to the first payments starting on April 28, with those with Social Security numbers ending in 00-20 receiving theirs that week.
Those with numbers ending in 21-75 will receive theirs starting the week of May 2.
The last batch of direct deposit payments will be sent May 9 to those who's Social Security numbers end in 76-99.
If you have no idea what your refund amount will be, you can go to the IRS calculator here. For the stimulus schedule you can go here.
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Tracked on: April 26, 2008 9:30 PM | Permalink to Trackback