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The Fastest Way to Receive Your Economic Stimulus Refund Check

By Erik Folgate

If you stumbled across this site from a google search for information about the economic stimulus payment, be sure to subscribe to my RSS feed, read about me, and introduce yourself to what this site is all about by reading about my 11 principles.

If you are one of the prompt ones that will be filing your taxes before the April 15th deadline, but have not done it yet, be sure to sign up for direct deposit of your tax refund if possible. According to Fox Business News and the IRS, if you had or will have your 2007 tax refund direct deposited into your account, you will be one of the first to receive your economic stimulus checks! Here is the breakdown of when the money should reach your account based on social security number.

If the last two digits in your social security number ends with:

  • 00 – 20: May 2nd
  • 21 – 75: May 9th
  • 76 – 99: M16th

If the IRS does not have your direct deposit information, then this is your schedule:

  • 00 – 09: May 16
  • 10 – 18: May 23
  • 19 – 25: May 30
  • 26 – 38: June 6
  • 39 – 51: June 13
  • 52 – 63: June 20
  • 64 – 75: June 27
  • 76 – 87: July 4
  • 88 – 99: July 11

Sorry to say, but those with their last two SSN digits in the 60′s, 70′s, 80′s, and 90′s will have to wait until late June and early July to have their checks sent to them. That is why I’m telling you to pick direct deposit into your checking account if you haven’t filed yet. You’ll get your check in May, rather than July!

***If you owe any federal debt such as back taxes or you are delinquent on any federal student loans or child support, the IRS will apply the stimulus payment to those debts first, and issue any remaining amount to you. You’ll receive a letter in the mail explaining how they applied the payment.

I know that many of you have a ton of questions about eligibility for the payment and unique situations that have you confused about whether or not you’ll receive the payment. Go here for a comprehensive list of frequently asked questions from the IRS website. Also, check out the related posts listed below for more information regarding the stimulus payments.

Erik Folgate
Erik and his wife, Lindzee, live in Orlando, Florida with a baby boy on the way. Erik works as an account manager for a marketing company, and considers counseling friends, family and the readers of Money Crashers his personal ministry to others. Erik became passionate about personal finance and helping others make wise financial decisions after racking up over $20k in credit card and student loan debt within the first two years of college.

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Comments

  • Jacquelyn Hart-McCoy

    If I owed taxes and had them take it directly from my bank account would I be getting the eariler dates or the later ones? I wonder…

  • MattC

    Reading the FAQ’s on the IRS website, you should fill out the information (routing number, account number) even if you are not getting a refund so that they can do direct deposit.

  • Minimum Wage

    What stupid nonsense. My “check” will be diverted toward my student loan, so I won’t even get a check. So why do I have to “use” direct deposit (which they won’t do either) to have them processed earlier?

  • author

    diverted? you mean you’re going to use it for your student loans? I’ve never heard that they will take the money and put it towards your student loan unless you cash it and pay the loan yourself

  • Jacquelyn Hart-McCoy

    My friend Amanda is having her wages garnished over student loans, is that what he/she could mean?

  • author

    oh, maybe. But that’s only if you’ve defaulted on the loan.

  • Minimum Wage

    Um, no. When you have a student loan in default, your tax refunds (and in this case the “rebate”) is “offset” (that’s what they call it. Instead of sending you the refund, they send it to the Dept of Ed which holds the loan.

    I’m paying $60 a month but that’s not enough to get my loan out of default.

  • Minimum Wage

    Yes, I defaulted after four rent increases in four years without getting any wage increase, and had cut back year after year. Nobody has ever suggested that on a minimum wage income I had the capacity to make full payments.

    At the time, the student loan system had NO provision for borrowers who lacked sufficient income to make full payments.

    It was only after a lot of people – like me – defaulted that they developed a system which provides for lower affordable payments for low earners.

    For example, if I were in that program, I would have monthly payments under $10, which is a lot less than the $60 I am now paying.

    But under that program I’d have 25 years of payments and under my current payment of $60, will pay off the loans in 12 years.

    If $60 will pay off the loans faster but keep your loans in default, and $10 will take longer to pay but will get your loans out of default, that makes no sense. Shouldn’t there be an option where a $60 monthly payment will get you out of default?

  • Ivy

    What if i already filed my taxes? Is there anyway to add direct deposit to that in order to have my ES check sent there. I got my federal and state refund put on an H&R Block emerald Master Card…could the E check b put on there?

  • author

    Having your tax refund put on your H&R block card does not qualify as direct deposit. You had to have given the IRS your direct deposit information such as your checking account # and routing number and received your 2007 tax refund directly into your account for you to be eligible to receive the stimulus payment by direct deposit.

  • Donald G and Becky Lomax

    We were told that we did not make enough money for any stimulus cks…

    I took copies of our tax returns to the Social Security Office…We are both on Medicare..They copied our returns and told us to be sure and notify the IRS..We asked the accountant to please do that…Nothing..Please help or advise..Thank you..Don Lomax

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