2008 Economic Stimulus Package

Have you been wondreing about the Economic Stimulus Package? Wondernig if you qualify for a refund? Wondering how much to expect? Wondering when to expect it? I have all the information here that will give you a good idea on all of these things.

Let me start by saying that I got all of my information from the IRS website. Don't quote me on this information if you want exact details please go there and check it out. I will explain it to you in my understanding of it in simple terms.


Who is eligable?

Anyone who filed a 2007 Federal Tax Return.


How much should I expect?

The tax refund is calculated by your adjusted gross income and your tax liability for 2007. The minimum payment is $300. It goes up with the amount of your tax liability up to $600. These amounts are doubled for married couples filing jointly. If your adjusted gross income is over $75,000 for single and $150,000 for married filing jointly, your refund will go down by 5% of your adjusted gross income over those thresholds. Also anyone with qualifying children, children under the age of 17 as of December 31, 2007, may be eligable to recieve $300 per child. If your net tax liability is $0 and your qualifying adjusted gross income is less than $3000, you will not recieve a refund.


When can I expend my refund?

The way to determine your expected date of your refund goes by the last two numbers in your social security number.

For direct deposit: (people who signed up for direct deposit on their 2007 tax return)

Last two digits of social security number:

00 through 20 May 2
21 through 75 May 9
76 through 99 May 16

For regular paper check payments: (those who did or will recieve a paper check refund for their 2007 tax refund)

Last two digits of social security number:

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

These dates are the dates that you should have the deposit in your bank account or the date your paper check will be mailed by. For more details please visit the links below.

IRS Main Page
Stimuls Package FAQ's
Stimulus Package Calculator