Message Font: Serif | Sans-Serif
No. of Recommendations: 1
Why would it be on the paper check schedule if I selected direct deposit?

Short answer: They lied.

Long answer: There were a bunch of problems that weren't anticipated, one being that they couldn't capture direct deposit information as they had thought they could. That's why their FAQ said in February that if you e-filed and paid via direct deposit you'd get direct deposit of the advance payment. They changed it in March.

As to your other question, no. The stimulus credit is a refundable credit calculated on your 2008 return. The advance payment, which is what's being sent now, is an estimate of that credit based on your 2007 return information. If you don't get an advance payment and you don't qualify for the credit on your 2008 return you'll not get anything.

You should get the advance payment, just not as soon as you thought. And you don't have to pay it back even if you don't qualify on your 2008 return.

Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.