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IRS announces economic stimulus payment schedules and payment calculator

Many people are following with much interest the issue over the economic stimulus payments recently enacted by Congress and signed by the President. In that regard, the IRS has announced that it will begin sending more than 130 million economic stimulus payments starting May 2. The initial round of weekly payments will be completed by early July.

The IRS also announced the availability of a new online calculator on its web site to help people determine the amount of their stimulus payments. Stimulus payments will be made by direct deposit to people who choose to receive their 2007 income tax refunds through direct deposit. All others will receive their economic stimulus payments in the form of a paper check.

The IRS now has a comprehensive website that answers the most common questions about these economic stimulus payments. That website, including the calculator to estimate what an individual's payment is likely to be, is accessible at the following location:


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