Where Is Our Economic Stimulus Payment Direct Deposit?

Economic Stimulus Payment Direct Deposit Schedule

Since May 9th, I’ve been wondering why we have yet to receive our tax rebate/economic stimulus payment by direct deposit.  According to my SSN and the payment schedule, we were supposed to get the deposit on May 9th.

What I Know About the Economic Stimulus Payment

I know this is somewhat old news, so forgive me…but I’ve been wanting to post about this for a few weeks now and haven’t found the time.  I previously posted about the tax rebate or economic stimulus payment, and how you could get your money quicker if you put your direct deposit information on your tax return (even if you were paying taxes), which I did.

I also posted about the revised tax rebate or economic stimulus payment schedule (which I assumed applied to me), and some vishing scams associated with the stimulus payments (which I think I’ve avoided).

I’ve since visited the Economic Stimulus Payment Calculator and determined that we should be receiving $1,200.  I’ve even blogged about how you can use the stimulus money to get you free groceries and gas.

Could I be one of the unlucky 1,500? Doubt it.  Wouldn’t I know by now?

You see where I’m going with this, right?  WHERE IS OUR PAYMENT!!! I don’t get it.  I’m pretty thick headed when it comes to tax regulation and rules, so help me figure this one out.

How I Filed Our Taxes

Let’s review my set of circumstances and let’s see if you can help me figure out why we haven’t received the payment via direct deposit.

  • We recieved the original (and wasteful) “you will be getting a Stimulus payment” letter from the IRS
  • I completed our 1040, along with a Schedule C (for this blog), and a Form 8606 (to report previous non-deductible contributions to my IRA)
  • I used TurboTax purchased off the retail shelf
  • TurboTax calculated our stimulus payment to be $1,200
  • I put our banking information on the 1040 (which TurboTax advised me to do)
  • I physically mailed these to the IRS on April 11th, 2008 (thus, I didn’t incur any tax prep or filing fees)
  • We owed money this year (so much we had a minor penalty), so I sent a check for the payment
  • The IRS cashed the check on April 16th, 2008

What Others Are Saying

It seems that by now everyone should have already (a) received their stimulus payment via direct deposit, or (b) found out when they’ll be getting their check.  Some people have already recieved their paper check.  Others are in my boat and haven’t recieved their payment either.

Economic Stimulus Payment Paper Check Schedule

Initially, I’ll say that I’ve resided to the fact that we’ll be getting a paper check, so I guess I’ll refer to the paper check payment schedule:

If I’m getting a paper check, it will be mailed no later than (and received a few days after) June 20, 2008.

The IRS FAQ About The Economic Stimulus Payment

But wait…I just went to the IRS website and skimmed through their Economic Stimulus Payment FAQ and found this which seems to apply to our situation:

Q. I filed my return on time, but I haven’t received my stimulus payment, even though the payment date listed for my Social Security number has passed. Why?

A. In general, the payment schedule only applies if your return was received and the IRS finished processing it before April 15. If you filed your return on time, but close to the April 15 deadline, the IRS may not have finished processing it before April 15.  Processing times for tax returns and stimulus payments vary. If you are getting a regular income-tax refund, the IRS will send you that refund first. Normally, your stimulus payment will follow one to two weeks later.  If you are not expecting a regular tax refund, your stimulus payment generally should arrive a minimum of six weeks after you file.

The Answer?

Okay, now we’re getting somewhere.  Because I filed our return on the 11th and they most likely didn’t process it until the 16th or later, the earliest we’ll be receiving the payment “should” have been yesterday, May 28th, 2008 (exactly 6 weeks from April 16th).  I just checked our account…the deposit still hasn’t made it.  Hmmm….  I guess I’ll have to wait a few days to determine if it’s something else.

So, my next question is…will we get it by paper check or direct deposit?  I guess it doesn’t matter, but since the direct deposit schedule is now over, are they only processing checks going forward?

Last Edited: July 21, 2014 @ 10:41 pm The content of ptmoney.com is for general information purposes only and does not constitute professional advice. Visitors to ptmoney.com should not act upon the content or information without first seeking appropriate professional advice. In accordance with the latest FTC guidelines, we declare that we have a financial relationship with every company mentioned on this site.
About Philip Taylor

Philip Taylor, aka "PT", is a CPA, financial writer, FinCon CEO, and husband and father of three. He created PT Money back in 2007 to share his thoughts on money and to meet others passionate about managing their finances. All the content on this blog is original, and created or edited by PT. Read more about Philip Taylor, and be sure to connect with him on Twitter, Facebook, or view the Philip Taylor+ Google profile.

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  1. courtney says:

    Bummer you haven’t gotten it yet. This year, we opened new checking/savings accounts with a new bank and had our tax refund direct deposited to the new account. However, our economic stimulas money went to our old account–the one our tax refund went to last year. Fortunately, we still have that account open and were able to get our money.

    Did you by chance change accounts since last year?

  2. I’m pulling this off the top of my head but I recall hearing something about using Turbo Tax and that delaying payment? I could be wrong but that might be a place to look into.

  3. Yeah, bummer. I got mine on May 9th. I used TaxCut Online.

  4. I’m pretty sure your “problem” is that you owed money on your taxes this year. From what I understand if you owed money you get a paper check even if you gave them your direct deposit info.

    I hope it arrives earlier than scheduled!

  5. @courtney – thanks for your comment 😉 That’s very odd that it went to the old account, and not the one listed on the latest filled return. Last year, we paid as well, so I’m sure I had no reason to include the banking info, as opposed to this year. Either way, I’ve checked all the accounts we’ve used the past two years and still nothing. Have you heard of anyone else getting the dd in their old account like this?

  6. @ffb – yes, if you used TurboTax and eFiled they (TT) pulls the payment from your refund/rebate. However, we didn’t eFile. I mailed a paper return in.

    @Pinyo – How was TaxCut?

    @BeThisWay – Thanks for commenting. Yeah, that’s one of the reasons I thought at first, but I remember TurboTax asking me for my banking info and telling me that even though we’re paying, we could get the rebate via dd.

    I bet it’s the slower processing of the paper return that’s caused the delay. If I don’t get it by next week, I’ll begin to worry.

  7. PT-
    I believe you only get direct deposit if you got a refund which was direct deposited.
    This is a quote from IRS news release 2008-44
    “Stimulus payments will be made by direct deposit to people who choose to receive their 2007 income tax refunds through direct deposit. All others will receive their economic stimulus payments in the form of a paper check.”

    I doubt TurboTax knew what was going on, as from what I understand they did not tell anyone that if they had fees deducted from their refund they would not get DD but a paper check.

    That’s the way I had interpreted it anyway-hope this helps.

  8. courtney says:

    i’m pretty sure hank’s comment is the most feasible explanation!

  9. agreed :)

  10. I’d say it’s because you’re dealing with a thing called “the government”. 😉 Everything takes a while with them, eh?

  11. There is always a chance that it is now being processed by your bank and you should receive it on Monday….

    But I agree that because it is the government you are dealing with you shouldn’t hold your breath!

  12. Bill@TheWealthHunter says:

    This post rocks! It’s one of the most helpful posts I’ve seen anywhere in a real long time. Keep posting!

  13. @Turn One – I guess you’re right. I have it going to ING and they do take longer to process things…maybe I’ll see it by Monday like you say.

    @Bill – Hey thanks, man. Very nice of you to say so.

  14. I was supposed to receive mine by direct deposit and it showed up in check form.

  15. Monilexa says:

    I agree completely with the original post. I’m just hoping, wishing and waiting for mines. I filed my takes in early Feb and requested direct deposit for fed and state. My state refund came late as a check because they said they were having direct deposit problems. I received my federal refund as 3 days money loan. I was supposed to have my ES payment via direct deposit in May and have not seen it yet. I’m hoping for a paper check around 6/20 but I kind of doubt it.

  16. We finally recieved our direct deposit! It came on June 20th, the same date the calender says we’d get a paper check. Weird.

  17. Monilexa says:

    All I have received so far is the letter from teh IRS annoucing my payment amount and that my check release date is 6/20 but it can still take up to 6 weeks to receive it.

    Glad you finally received yours…I’m still hopeful for mines. Ohh Hummm!

  18. Ali Haider says:

    We filed our returns sometime in January or early february. According to the IRS schedule, we should have had direct deposit by May 2nd. But we still haven’t received anything !

  19. Help, please!! We filed close to April 15th and the IRS cashed our check within a month. We meet all the criteria and our stimulus check should have been mailed by June 27th. Each time I go to “Where’s my Stimulus Payment” on their website, I get the message “We are sorry. Specific information about your Stimulus Payment is not available” and it tells me to look at the schedule below. When I call, I get the same information and then disconnected. Can anyone tell me where I can find out the reason why I haven’t received it yet (and when I can expect it)? I have double-checked my return to make sure the SS# and deductions match. Thank you!!

  20. @Nancy – Sorry to hear that. The best I can tell you to do is to call them up and try and get to a live person. If they don’t know, ask to speak to their boss. Just call them and bug them till you find someone who has answers. They owe that to you at this point.

  21. august 3, still haven’t recieved my stimulus check !!!!on disability ,and owe a student loan, but did all the paper (twice) to get the loan excused , so where’s my check???

  22. Martha Davis says:

    I haven’t received a letter or check in which I would like to know am I getting a stimuls check. My last two numbers are 80