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The Internal Revenue Service released a payment calendar this week letting Americans know when they should expect their stimulus payment in the mail. For those who chose direct deposit on their 2007 tax returns, they will receive their stimulus payments through direct deposit starting May 2 and ending May 16. Those who will receive their payments by check, will start receiving their payments starting May 16 with the bulk of payments being sent out by mid-July. Additionally, the IRS has created a stimulus payment calculator on their website to provide Americans with an estimate of how much their stimulus payment will be. The IRS Web site also features important information on the Earned Income Tax Credit. The IRS estimates that 20 - 25% of taxpayers who are eligible do not claim this credit.
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