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[Shelbyville Times-Gazette]
Shelbyville, Tennessee ~ Sunday, September 7, 2008
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Rebate checks should finish by mid-July

Saturday, May 17, 2008

"Oh, I have mine already. I just don't know what I'm going to do with it!"

Jane Bedford paused while working at Marsha's on the Square. "I haven't really thought about it."

Bedford is one of the lucky ones who has already gotten her economic stimulus tax rebate from the government. Because she chose direct deposit, and her Social Security number was in the right range, she already has the money in hand. Now, she just needs to find something to spend it on.

"She needs to come over here!" said Wendy Vincent at Heritage Jewelers, also on the square. "We haven't had anybody come in who's gotten theirs back yet."

Those who qualify for the rebate -- and you can find out who you are by visiting the IRS website at www.irs.com -- should be getting them soon. If direct deposit was requested, they should be here by now. Depending on the last two numbers of the Social Security Number, the rebate should have been deposited by:

00-20: May 2

21-75: May 9

76-99: May 16

If you are expecting a check in the mail, depending on the last two numbers of your Social Security Number, it should be mailed by:

00-09: May 16

10-18: May 23

19-25: May 30

26-38: June 6

39-51: June 13

52-63: June 20

64-75: June 27

76-87: July 4

88-99: July 11

The rebates are a move by the government designed to stimulate the economy -- meaning they want everyone to go out and spend that check. Many people are planning just that.

"They've been in looking," said Charles Woodall, store manager at Badcocks. "They said they'd be back. I've had one woman in, she's got a living room all picked out and said she's just waiting on her check."

Will the rebates do what they were destined to do? Woodall believes so.

"I'm looking forward to it helping me," he said. "I believe it will help a great deal. That's what it's supposed to be for, to stimulate the economy. Hopefully, we'll get our own little bitty share if it."

Most people are planning on spending the money, but not on the luxuries and impulse purchases many expected. A recent poll revealed that a lot people were planning on using their government gift on groceries -- and gasoline.

"Car repairs," said Christie Anderson. "I already got my refund -- it was used on my car."

She said the rebate check will be used for the same purpose.

"My bills," said Jessica Johnson. "I just want to get caught up."

Some people are re-investing the money by putting it into their homes or businesses.

"My wife knows exactly what she's going to do with hers," said Frank Gardner, sales manager at Victory Nissan. "Repair some wind damage on our house."

"We're remodeling with ours," said Vicky Holt.

Both Jennifer Jordan of J. Jordan's and Cindy Stephenson of Watkins Grocery know exactly what they'll do with their rebate checks.

"I'll be putting it back in the business," said Jordan. "That's what you do."

Stephenson agreed, saying she would probably spend hers on her new business as well.

"Just getting set up has taken a lot more than I thought it would, but it's been worth it," she said.

Holt, who is also the manager at the Antique, Art and Collectibles Mall on the square, doesn't know if any of her recent customers have been using their tax rebate for their purchases, but she said there have been more of them lately.

"We've seen increases in spending and I wonder if it might have something to do with it," said Holt. "We have had a lot of our older customers come in here, talking about the economy and they'll compare it to the Great Depression and say, 'This ain't nothin'!"

That may be why some of those receiving checks, such as Mike Quinn Sr., have different plans for their windfall.

"Nope," said Quinn. "I'm putting it in the bank."

"I'm going to save it," said Mary Carpenter. "I might need it down the road for something important. I don't need anything right now."


Comments
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Do note.. If you owed tax for 2007, the IRS will take your stimulus check and apply it towards your taxes if you owe. I understand why they do it...but it dose not seem to help in being a stimulus for the economy, which is the reason why the tax rebate was created.

-- Posted by mtsufan on Mon, May 19, 2008, at 1:23 PM

If you go to the site below, you can enter information only you would know about your 2007 tax return and it will tell you how much money you can expect to receive and when.

https://sa1.www4.irs.gov/irfof/IRServlet?app=IRACTC&selectLanguage=en

-- Posted by nathan.evans on Sun, May 18, 2008, at 9:22 AM

The web site for the Internal Revenue Service is www.irs.gov. The web site listed in your article leads you to a bank & taxes site.

-- Posted by bettyhbrown on Sun, May 18, 2008, at 8:33 AM


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