IRS to start sending out rebate checks May 2

The Internal Revenue Service announced the schedule for sending out this year's economic stimulus checks today.

In a news release, the IRS said it will make direct deposits or mail checks starting May 2, in a schedule based on the last two digits of each taxpayer's social security number. The schedule is as follows:

Direct Deposit Payments

If the last two digits of your Social Security number are:      Your economic stimulus payment deposit should be sent to your bank account by:

00 – 20         May 2  

21 – 75         May 9  

76 – 99 May 16

Paper Check    

If the last two digits of your Social Security number are:      Your check should be in the mail by:   

00 – 09         May 16

10 – 18         May 23

19 – 25         May 30

26 – 38         June 6

39 – 51         June 13

52 – 63         June 20

64 – 75         June 27

76 – 87         July 4

88 – 99 July 11

"A small percentage of tax returns will require additional time to process and to compute a stimulus payment amount.  For these returns, stimulus payments may not be issued in accordance with the schedule above, even if the tax return was processed by April 15," according to the IRS news release.