The federal government is ready to show citizens the money – or at least the date to expect their extra tax refund check to appear in the mail.

Monday, July 16, 2001

The federal government is ready to show citizens the money – or at least the date to expect their extra tax refund check to appear in the mail.

The Web site, http://www.gop.gov/rebatecalculator.asp, allows residents to enter the last two-digits of their social security number to see when they can expect the mail carrier to bring them a little piece of economic stimulation that president George W. Bush promised.

The government, under Dubbya’s plan, is giving back $38 billion in tax refunds thanks to a tax package driven by a bipartisan force on Capital Hill. The package not only includes the refunds, but also a reduction of the tax withholding percentages on paychecks now and another reduction starting Jan. 1, 2002. The entire tax package is explained in a book on the Economic Growth and Tax Relief Reconciliation Act of 2001 and includes information on everything from the extra refund checks to the demise of the estate tax.

There is a catch, however, in that only people who "paid" taxes to the government will receive the checks, said Robert Payne, a CPA in South Point.

If a family listed enough in earned income tax credits, child tax credits and other deductions to get back all the tax they paid to the government, they will not receive a check this year, he said.

Even if you don’t fully qualify this year, though, there are provisions to deduct the extra refund from next year’s tax returns, Payne said.

In order to reduce the confusion, the government’s spending about $21 million on letters to notify people this month, Payne added.

Treasury department officials said anyone who filed a tax return this year will receive the extra refund. Those that filed single returns will receive $300; single parents will receive $500 and married couples will receive the maximum payback of $600.

The tax bill provides for $1.35 trillion in tax cuts. Some of the tax cuts will take effect this year, while others will be phased in over the next 10 years.

 

When’s it coming?

Check out the website to see when your refund check will be mailed or compare the last two-digits to the list below:

00-09: July 23

10-19: July 30

20-29: Aug. 6

30-39: Aug. 13

40-49: Aug. 20

50-59: Aug. 27

60-69: Sept. 3

70-79: Sept. 10

80-89: Sept. 17

90-99: Sept. 24

 

http://www.gop.gov/rebatecalculator.asp