Where's My Stimulus Payment?
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Stimulus Payments are still being issued.
You should check the Stimulus Payment Timeframes prior to using this application since specific information about your Stimulus Payment will not be available until about one week before your payment is scheduled to be sent.
If filing or preparation fees were deducted from your 2007 Refund or you received a refund anticipation loan, you will be receiving a check instead of a direct deposit.
To get to your Stimulus Payment information, be ready to enter your:
Social Security Number
Filing status (Single, Married Filing Joint Return, Married Filing Separate Return, Head of Household, or Qualifying Widow
Number of Exemptions shown on your 2007 tax return
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There have been quite a few rumors about a possible 2009 tax rebate that would exceed what
we all received from the 2008 rebate. Being an election year, each side wants to make their
candidate shine right before November, and giving cash to Americans seems to be a way they are
willing to do it.
Touted as "Son of Stimulus" by Democrats, the stimulus plan will push more money to taxpayers this fall. Earlier reports are that the amounts could be in the upwards of $150 billion, which would possibly equate to $700 - $800 per person.
This plan is backed my financial advisors who claim that the 2008 rebate did not do enough
to stimulate the economy. Most Americans ended up either saving it or buying gas. Another set
of people are still waiting for their checks due to glitches the IRS encountered while trying
to distribute the first round of checks.
Others question the value of a second tax rebate. The jury is still out as to whether Americans will actually spend this money and not just throw it under a mattress fearing higher and higher prices.
President Bush has clearly expressed his concern with passing another tax rebate. Now that
the government is planning a multi-trillion dollar bail out of the banking industry, there are
questions as to if there is any money left to give out, but there are conversations going on
trying to include a tax rebate into the buyout bill.
As part of his campaigning effort, Barack Obama has proposed a tax rebate that would give each person around $1000 to help offset rising good and gas prices with the hopes of increasing consumer spending. His plan to pay for this would be to tax oil company profits.
If Barack were to make it into office in January the timing on this would be critical since
no one knows what the economy would look like by the time January rolls around and he could
get something like this approved.
Many Americans are frustrated that they have to foot the bill for others who got themselves into these financial jams. The only question is can we survive with all the outpouring of money to these bail outs and military funding.
Sooner or later we are going to be required to pay up on our debts. Unfortunately this is too little too late. The economy as a whole needs to be saved and fast before more people start losing their retirements and financial securities. I just hope another tax rebate is a tool that can help us get there.