The Internal Revenue Service began distributing payments today to taxpayers who are eligible to receive rebates as part of The Economic Stimulus Act of 2008. Rebates are going out ahead of schedule as announced by President Bush last Friday.
Rebates are being issued through a process based on the last two digits of the main tax filer’s Social Security number. The first wave of payments will go to those who requested to receive them via direct deposit. Paper checks will begin being mailed on May 9th.
The IRS expects all payments to be distributed to eligible recipients no later than July 11th.
