Archive for April, 2008

Stimulus Payment Schedule for Tax Returns

April 15, 2008

 

 

 

Economic stimulus payments will be issued according to the last two-digits of the main filer’s Social Security number.   People who use direct deposit will be among the first to receive the payments starting May 2.  Paper checks will be put in the mail starting May 16.

DIRECT DEPOSIT

Last two SSN digits:

Payment will be transmitted:

00 through 20

May 2

21 through 75

May 9

76 through 99

May 16

 

PAPER CHECK

Last two SSN digits:

Payments will be mailed by:

00 through 09

May 16

10 through 18

May 23

19 through 25

May 30

26 through 38

June 6

39 through 51

June 13

52 through 63

June 20

64 through 75

June 27

76 through 87

July 4

88 through 99

July 11

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

People who file a return after April 15 will receive their economic stimulus payment, but probably about two weeks later than the schedule shows. A return must be filed by October 15 in order to receive a stimulus payment this year.

A small percentage of tax returns will require additional time to process and to compute a stimulus payment amount. For these returns, stimulus payments may not be issued in accordance with the schedule above, even if the tax return was processed by April 15.

 Source: http://www.irs.gov/irs/article/0,,id=180250,00.htm

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Senate’s OK of housing bill

April 11, 2008

In todays paper in San Diego…The Senate has passed the bill to help the lending industry.

$7,000 tax credit for buyers of foreclosed homes
$150 million in Counseling borrowers
$4billion for local governments to buy foreclosed properties

A lot of the senators (democratic) feel this is not enough to help the homeowners who are close to losing their homes. 

The White house is currently trying to help about 1.5 billion homeowners at risk of foreclosure by having the FHA insure up to 300 billion in refinancial mortgages.

The Senate Bill although unlikely to be enacted in its current form, would cost about $15 billion over 10 years.

Should the government get involved?  How do we know who got themselves over there head knowingly and who did not?  This is a tough question for all to try and anwer.

The problem is lending in the real estate market.

Hello world!

April 11, 2008

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