Stimulus check confusion

May 7, 2008 4:02:55 PM PDT
Some consumers will have to wait longer than they thought to get their economic stimulus checks. Because a lot of people who thought their money would be direct deposited are actually getting paper checks. Najma Terry planed to spend her economic stimulus money on various family expenses.

"I'm expecting 1500-dollars," said Najma.

She thought she'd be getting her money through direct deposit this week. But she's actually getting a paper check, and that won't arrive in the mail until June 13th!

"That's a lot of money to have on hold," she addd.

Here's why Najma is getting a paper check: She deferred paying her tax preparation fees choosing instead to have those fees taken out of her tax refund.

Here's what happens when you do that.

Your tax prep fee is then considered a loan.

That means the I-R-S sends your refund to a third-party bank which is partnered with your tax preparation company.

THAT BANK then deposits your refund into your account. And since the I-R-S didn't directly deposit your refund to you, the agency will mail you your economic stimulus money via a paper check.

You'll also get a paper check if you got a refund anticipation loan, or if you had your refund loaded onto a pre-paid card and that card is now closed.

WaWa is rolling out a new service so you don't have to stand in line.

You'll now be able to pre-order and pay for your food through text messages and online. For now, the new service will be available at only six stores in the Philadelphia area.

Locations that will have WaWa's new pre-order service: On March 11, 2008, the new service officially launched at the Wawa on 10 Liberty Boulevard and the Wawa on 5 Matthews Road in Malvern, Pennsylvania. On April 21, 2008 the service launched at the Wawa on 1260 North Providence Road and the Wawa on 100 East Baltimore Pike in Media, Pennsylvania. As of April 28, 2008 the service launched at the Wawa on 3604 Chestnut Street, and the Wawa on 3744 Spruce Street in Philadelphia. The service is scheduled to roll-out in four Pottstown-area stores in the near future.

The cost of sending a first-class letter will go up a penny to 42-cents on May 12th that's this coming Monday.

But remember Forever stamps will remain valid.

So, if you buy them for 41 cents now, you won't need any additional postage when the new rates take effect.

LINKS:

More information on stimulus checks

Stamp prices

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