Stimulus Check Payment Amounts - What You Need To Know

By now most people know that Pres. Bush's economic stimulus checks are soon to be on their way. But, when -- and more importantly how much?

I did a little research on the IRS website today and it says that checks are being mailed by the final two digits of their social security number in waves. Checks will first be mailed May 2nd and the chart below shows when you can expect to receive your check.

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

The full chart can be found here. It should be noted that the IRS also says that people who filed late will receive their stimulus check approximately two weeks after their scheduled payment date.

If you have your 2007 1040 printed and handy, you can head over to the IRS Economic Stimulus Payment Calculator to determine how much you will be receiving. Generally, the checks will be $300 for individuals and $600 for married couples jointly filing, but this can be complicated when dependents are thrown into the mix.