What will you be doing with your (US) economic stimulus check?

[ChefJune]

I'm glad ours will be done by direct deposit. I don't want to wait until July 11 for it to be mailed.

Barbara

I'm with you... my Mailing Date would have been June 27th... Peh!

 

[Uncle Bob]

I'm with you... my Mailing Date would have been June 27th... Peh!

Rats..I just looked...that's when mine WILL be sent....Send me 1/2 of yours, and I'll pay you back in July....

 

[Barbara L]

Well, it looks like more bad news. The article I had read said that all the direct deposit rebates would be in by this Friday, May 2. I just checked Internal Revenue Service and found out it won't be until later in May:

Stimulus Payment Schedule for Tax Returns Processed by April 15

Economic stimulus payments will be issued according to the last two-digits of the main filer's Social Security number. For joint filers, the payments will go out based on the person listed first on the return. Payments will be made by either direct deposit or paper check, consistent with how people filed their 2007 tax return.

People who use direct deposit also will be among the first to receive the payments starting April 28. Direct deposits will be made daily and completed by the date listed below:​

DIRECT DEPOSIT


Last two SSN digits: Payments will be transmitted no later than: 00 through 20 May 2, 21 through 75 May 9, 76 through 99 May 16

Paper checks will also go out based on Social Security number. For Social Security numbers ending in 00 through 09, the paper checks will be mailed starting May 9 and will continue through May 16. A similar process will be repeated in the following weeks.

PAPER CHECK

Last two SSN digits: Payments will be mailed no later than: 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

People who file a return after April 15 will receive their economic stimulus payment, but probably about two weeks later than the schedule shows. A return must be filed by October 15 in order to receive a stimulus payment this year. See the online calculator for an estimate of the amount you will receive.

A small percentage of tax returns will require additional time to process and to compute a stimulus payment amount. For these returns, stimulus payments may not be issued in accordance with the schedule above, even if the tax return was processed by April 15.​

Barbara

 

[B'sgirl]

It will go toward a minivan.

 

[B'sgirl]

Will you stimulate the economy or save it or both? We'll be saving half and using the other half to put new tile in our downstairs bathroom. Of course, our check will be mailed and we're at the end of the list, so we won't get ours until July & some of our friends make too much and don't even qualify (must be nice). How about you?

Technically, if you put it in the bank you are still stimulating the economy because you are putting it where banks have access to loan it out to others. It is a myth to say that saving your money in a bank is hording it and preventing it from entering the economy. Unless, of course, you stuff it under your mattress.

 

[GB]

Technically, if you put it in the bank you are still stimulating the economy because you are putting it where banks have access to loan it out to others. It is a myth to say that saving your money in a bank is hording it and preventing it from entering the economy. Unless, of course, you stuff it under your mattress.

This is not completely true. It just means that the banks have more money available to lend. It does not mean that that money WILL be lent. Putting it in the bank does not stimulate the economy the way spending it does.

 

[Constance]

If we get one, it will go on my landscaping bill. Our 2 acres is getting a face lift, and as always, the job is going over budget.

 

[Maverick2272]

Going towards a family car.. we are down to one vehicle and that is being used for DW's business. Unless this other trade deal works out, in which it will go to pay down debt or help renovate the garage or a million other things that need done.
Won't put it in savings, would rather put it in a fire proof safe instead. Ours is coming as a paper check, no way I want the IRS running around with my bank account info, thank you very much!
Actually I would have liked direct deposit but DW is very paranoid when it comes to the US Government. Must be her Canadian background there, LOL.

 

[jpmcgrew]

I thought I read some where that this is not free money it is supposed to be like last time they sent a check it actually will come out of next years taxes. I do not believe this will solve the problems in this country it's much more complicated than that. These checks will help a little but it will not solve the high prices we are paying for gas and food. It's a tiny little band-aid for a gashing wound. I do think it is wise to invest in a fair amount of non perishable food as those prices are going thru the roof and they will only get higher due to the gas prices. I believe sooner or later the truckers will go on strike because right now they are not going to be able to keep this up and make a living. As for gas I would like to know if there is a way to stock pile some gas in an efficient way. As usual the oil companies are reporting record profits in the billions I would think they would have some compassion and not charge as much as they can at least for a while but alas not so.

 

[Barbara L]

...Actually I would have liked direct deposit but DW is very paranoid when it comes to the US Government. Must be her Canadian background there, LOL.

Believe me, if the government wants it, they will get it anyway. Years ago my mom and dad received some money from the IRS that was not theirs ($250 I think). They told the IRS they weren't supposed to have the money and wanted to know what to do, but they never got a response. Then one day $250 plus a fine were deducted from my mom and dad's bank account! This was before [a very few] people were able to fight the IRS and sometimes win. As I said, if they want it, they will get it.

I'm sure you have read this before--Have you ever noticed what happens when you join the following words?

THE IRS

Yep, that says it all!

Barbara

 

[mikki]

Ours will probably go towards an outdoor wood stove. Hubby is tired of paying high heating costs when we have 20 acres of free fuel.

 

[expatgirl]

I can't remember what we decided to do with it, except we're saving part of it. The rest will probably go in the vacation fund - we're hoping to do a big trip to Europe next year for our 25th anniversary. Visit former exchange students in Germany (one will be graduating from high school), then go to Italy, maybe.

You got that right, June - pandering is more like it. I heard a suggestion on the radio that the gov't should have used it to build/repair infrastructure. That would stimulate the construction economy *and* get something useful done.

GG, I hope that when you visit Italy(we were in Rome) the dollar has gone up in value.....we were there a few months ago and if the $$ is as stagnated as it was when we were there your $600 won't go far.......and we stayed at a 4 star hotel and took public transport everywhere except for the Borgia museum 'cause it had a cut-off time to be there or you lost your $$$ for the tour (and boy, was it worth it)---for some reason the buses were not picking up that day to go in that direction so we took a taxi--only 8 dollars and worth every cent

 

[expatgirl]

oh, and the hotel was taken during the off season.........forget the on season...we never would have been able to afford it, otherwise, and we heard horror stories about people being put up in bad hotel accomodations

 

[Maverick2272]

At this rate: A tank of gas and two weeks of groceries!

 

[Barbara L]

At this rate: A tank of gas and two weeks of groceries!

I know what you mean!

Barbara

 

[josh_swinehart]

Use it to pay my quarterly taxes.

 

[expatgirl]

quarterly??? you must be one of Uncle Sam's best friends, Josh S!!!

 

[josh_swinehart]

Oh yeah.

 

[LEFSElover]

...........I'll probably buy a pinto bean

 

[expatgirl]

hahaha---hope it's not that bad