IRS Announces Stimulus Payment Schedules, Online Calculator

WASHINGTON, D.C. (KHNL) -- The Internal Revenue Service will begin mailing more than 130 million economic stimulus payments starting May 2.

Payments will be sent out in the order of the last two digits of the Social Security number used on the tax return.

Taxpayers who choose direct deposit can expect to receive their payments between May 2 and May 16.  Paper checks will be mailed starting May 16 and be completed by early July.

To help taxpayers determine if they are eligible to receive an economic stimulus payment and how much they can expect, the IRS launched a new online calculator on its Web site.

Click on the IRS link for more information.