Easy come, easy go: Rebate checks arriving
Posted
May 06 2008, 02:03 PM
by
Karen Datko
Cathy at Chief Family Officer was very excited the other day. That tax rebate check showed up in her checking account. She's using it to pay off the balance owed on her car loan. "That's right! Our car loan will be paid off in less than two months! I feel like I pretty much met my goal of paying cash for a car this year," she writes.
Lots of bloggers have received their checks and are sharing their plans for the money. Not a spendthrift group, this bunch. So much for the government's economic-stimulus plan.
They note that retailers are competing for those bucks with special incentives. Even MyPoints, a favorite of our partner blogger Donna Freedman, has gotten into the act.
Bloggers aren't taking the bait.
"PaidTwice" at I've Paid For This Twice Already found a surprise $1,800 deposit from Uncle Sam in her checking account this weekend. It wasn't due until Monday. Her plan for the money: She has the surprise purchase of a new furnace. Easy come, easy go.
Madame X at My Open Wallet got a measly $19.70, apparently because she made too much money. One of her readers, "Sandyvoice," made too little to qualify for the maximum $600 individual rebate. She wrote: "My $300 is paying for necessities. It's utilities, phone bill and public transportation this month. Or maybe it's my three visits to the acupuncturist and the co-pay for my allergy shot. And $300 of my regular income will be left on May 31, so I won't feel so scared."
We haven't even bothered to check our bank statement. No matter when it gets here, the check will help pay for a new crown -- the tooth kind, not the tiara. At least we're stimulating our dentist's personal finances.
"Flexo" at Consumerism Commentary said several folks have told him their check didn't arrive on time. "If you're looking for your money, check the schedule first to ensure you're not jumping the gun," he writes. "Keep in mind that this schedule is only 'accurate' for those who filed their taxes by the usual deadline."
If the date you were supposed to receive the rebate has already come and gone, you may find more information here. Tricia at Blogging Away Debt used that IRS site and found out that her check will arrive on Friday. She'll use it to pay down credit card debt. "Sometimes it seems like it is taking forever to pay off our cards," she writes. "But these little milestones really help to keep me going."
Of course, every time there's a windfall, scammers are close behind. Erik at Money Crashers correctly advises that the IRS will never contact you to verify your personal information. "The IRS will never call, e-mail, or send a letter asking for your bank account information," he says, adding, "Don't believe anyone approaching you who says they can turn your refund check into more money. Unless they're magicians or wizards, it's a scam."
