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Posts tagged with: irs

Economic Stimulus Payments Coming Out a Little Earlier

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Thanks Sherri for the heads up! She left a link to a story about the economic stimulus payments coming out a little earlier than expected:

President Bush said tax rebates will start going out Monday, earlier than previously announced, and should help Americans cope with rising gasoline and food prices, as well as aid a slumping economy.

Via [sfgate.com]

It looks like the official IRS payment schedule site has been revised as well:

People who use direct deposit also will be among the first to receive the payments starting April 28.

Via [IRS.gov]

The payment schedule itself appears to be the same as before President Bush’s announcement. If all goes well, it looks like we will have our check by mid-May. That’s exciting, because that will put our debt under the 5 figure mark!

To be honest, though, I’m starting to feel a little uneasy about food prices. We may spend some of that payment after all, to stock up on necessity/pantry type items. I’m still considering it.


There Is a Delay in Processing Your Tax Return

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Our state tax return arrived via direct deposit a little bit ago. I’ve been anxiously awaiting our federal refund because we would break below the $13,000 mark with that money. Unfortunately, our tax refund has been delayed and I don’t know why.

I’m on hold with the IRS right now and my wait time is estimated at 20 minutes. At least they have classical music playing, although it’s a bit too loud. You also have those moments where something sounds different and you think you are being transferred to a representative but it’s only that voice that comes on to let you know that everyone is still busy.

I’ve searched the internet for the code that they gave me to try to find more information as to why our return is delayed. After quite a few misses (mostly from Yahoo answers), I found a great resource that hopefully none of you will need. The IRS has a page that lists all of the reference codes for internet filers. My code is listed, but the status description is greek to me so that’s why I’m on hold right now.

I learned about our refund being delayed this weekend. It put a bit of a damper on things since I did already “spend” the refund in my mind to go towards our debt. I can be impatient at times when it comes to paying off our debt.

This reminds me of another year where our refund was delayed. We were all set to move to where we are now and the move depended on our tax return to be able to pay for somewhere to rent once we got here. Well, the tax return didn’t arrive and it was delayed. There was no way we were delaying our move, so we headed to the bank and practically begged for a $1,000 loan. We did get the loan and ended up moving on time. A few weeks later, we finally received our tax return and turned around and paid the loan.

Comparing that situation makes this delay seem pretty trivial. We are not relying on this money for anything other than an extra payment towards our debt. Instead of being bummed, I should be thankful. I feel better about this already. We may not hit below the $13,000 mark in March, but we’ll hit it in April 🙂


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