Stimulus checks are on the way — How will you spend yours?
Government has started depositing checks into bank accounts.
COMMENT: How will you spend your stiumulus check?
Tuesday, April 29, 2008
MIDDLETOWN — Wondering when you will receive your economic stimulus check? You may be next on the list.
The federal government has started depositing checks into bank accounts of more than 800,000 taxpayers in the first wave of a weekslong effort to boost the economy.
Extras
Matthew Carpenter of Middletown: 'I'm going to fill up my tackle box. Fishing is my favorite pasttime.'
Bobby Mathews of Middletown: 'I'm using mine to pay child support.'
William Myers of Monroe: 'I think I'll pay some bills off and put some in the bank.'
Randy Pickett of Middletown: 'I'm going to spend mine buying clothes for the kids. We have girls 2 months old and 3 years old and a 4-year-old boy.'
Mary Revis of Middletown: 'I'm going to use half to pay bills and half to do something nice with my husband for our anniversary in July.'
Nate Smith of Middletown: 'It's a help. I plan on saving it and make it work for us so we can use it when the gas prices get even higher.'
Get latest headlines via RSS feedsThe IRS is distributing the checks based on the last two digits of a filer's Social Security number, when the 2007 tax return was filed and whether the filer opted for direct deposit.
Those who used direct deposit will get payments the soonest. The Treasury Department said by the end of next week, 7.4 million people will have received their rebate. Most will get their check by July 11.
Rebate incentives
Several businesses are offering incentive programs to encourage using rebate checks at their stores, especially after 73 percent of Americans said they will use the money to pay bills or put it into savings versus going for a shopping trip, according to a poll done by CNN. Good deals can be found for those willing to spend, said Mike Gatti, executive director of the Retail Advertising and Marketing Association.
"They're going to ramp up their efforts," Gatti said. "You're going to see special promotions and sales, maybe invitation-only events."
Are you getting a check?
To be eligible for a full rebate, single filers must have a 2007 adjusted gross income below $75,000 to get a rebate up to $600. Joint filers must earn less than $150,000 to receive a rebate up to $1,200. Parents also will receive $300 per child younger than 17, according to the IRS. Those not normally required to file — who have until Oct. 15 to file 2007 tax forms — but who have at least $3,000 in income will receive $300 per person or $600 per couple. However, those who delay filing may not receive a stimulus check until December.
On the Web
Find out when you will receive your rebate check using the Economic Stimulus Payment Calculator at irs.gov
Comments
By Eugene
April 29, 2008 3:11 PM | Link to this
I’m going to stock up on cupnoodles and wait for y3k to hit, once it does i’ll resell the investments to the highest bidders. hopefully this will be my big break.
By Kyle
April 29, 2008 12:56 PM | Link to this
Just checked and mine was deposited last night. Woo Hoo!
By Jessica
April 29, 2008 12:28 PM | Link to this
I have heard several things about our taxes next year I have heard both one they will take it out of our next tax refund and the other is that we will be taxed, just like we would if we had a second job or hobby that got us that money. Me and my husband plan to save it, with the way groceries and gas prices keep rising I want to make sure we have money put back in case we need it for something…
By Jessica
April 29, 2008 12:27 PM | Link to this
I have heard several things about our taxes next year I have heard both one they will take it out of our next tax refund and the other is that we will be taxed, just like we would if we had a second job or hobby that got us that money. Me and my husband plan to save it, with the way groceries and gas prices keep rising I want to make sure we have money put back in case we need it for something…
By Gene
April 29, 2008 12:27 PM | Link to this
Simple>>PUT IT IN THE BANK TO SAVE WHEN THEY TAKE IT BACK IN A FEW YEARS>>>and THEY WILL GET IT BACK!!!!
By Jennifer
April 29, 2008 11:08 AM | Link to this
Well I just bought a new to me ride…a Kawsaki Vulcan so I can actually afford to drive to work. I put my change in my hillbilly 401K Jar that is in the backyard guarded by my rottweiler, alot safer than investing!
By SuzeQ
April 29, 2008 11:08 AM | Link to this
I plan to pay off a small student loan and deposit my husband’s directly into savings. Although I can see the merits of “Phil Man’s” plan!
By Jennifer
April 29, 2008 11:08 AM | Link to this
Well I just bought a new to me ride…a Kawsaki Vulcan so I can actually afford to drive to work. I put my change in my hillbilly 401K Jar that is in the backyard guarded by my rottweiler, alot safer than investing!
By Jennier
April 29, 2008 11:08 AM | Link to this
Well I just bought a new to me ride…a Kawsaki Vulcan so I can actually afford to drive to work. I put my change in my hillbilly 401K Jar that is in the backyard guarded by my rottweiler, alot safer than investing!
By L.R.
April 29, 2008 10:39 AM | Link to this
Don’t get to excited, I heard from our tax lady that this is just a advance on next years tax returns.
By D H Johnson
April 29, 2008 9:38 AM | Link to this
I will keep my check a few days and just look at it with unbelief. Cause its just hard to believe that the government is going to give anyone anything. After a few days if no one calls and ask for it back, I will spend it. I am just suspicious of anything that the government would give the average person, I just wonder what kind of strings are attached to these checks.
By bigc
April 29, 2008 9:38 AM | Link to this
I am taking my wife to the gambling boat for her birthday, I hope uncle sams money is lucky.
By bigc
April 29, 2008 9:37 AM | Link to this
I am taking my wife to the gambling boat for her birthday, I hope uncle sams money is lucky.
By Anita
April 29, 2008 8:35 AM | Link to this
I plan to pay on my Duke Energy bill, fill up my freezer with frozen foods, cupboards with canned goods, and save what’s left over, if any. Oh, need to get my car tuned up. Hopefully that will give me better gas mileage with these high gas prices.
By Phil Man
April 29, 2008 8:16 AM | Link to this
I’m using mine on new underwear. Due to high prices, I can only afford beans to eat three times a day. Pinto, black, refried, I try to vary it. You can only imagine the racing stripes in my underpants.
By Kelley
April 29, 2008 7:49 AM | Link to this
I’m using mine to go on vacation with my three best friends. A girls weekend getaway!