Your stimulus payment is on the way...eventually

If you played all your cards right and happen to have the right Social Security number, you could get your economic stimulus payment (rebate) this week. The IRS says the first rebate payments--of up to $1,200 per couple and $300 per child--are going out via direct deposit this week to qualifying taxpayers who 1) had their returns processed by April 15; 2) arranged for direct deposit of their refunds and 3) have Social Security numbers ending with the last two digits between 00 and 20.

The rest of us will have to wait a little longer. Those who meet conditions 1) and 2) but have higher Social Security numbers should see their rebates by May 16. The remainder of folks who filed on time could wait as long as July 11, especially if they opted to have their refunds--and hence their rebates--sent by mail. In general, your rebate will be sent the same way as your refund.

That said, there are exceptions. Even if you opted for direct deposit of your refund, your stimulus rebate will be mailed if:

•You opted to direct-deposit your refund into more than one account (called a split refund).

•You got your refund through a refund anticipation loan (RAL). The IRS says it will not direct-deposit rebates into such arrangements. Folks who used H&R Block's Emerald Card to hold their refunds, for example, will get mailed rebate checks. (Click here for details from the IRS, and scroll through the section called "When and How.")

•You paid your tax-prep and/or electronic filing fee by subtracting it from your refund. These arrangements, which use third-party banks--such as Santa Barbara Bank and Trust for TurboTax users--are not eligible for rebate direct deposit.

•You arranged for direct deposit of your refund but then had to change or close your bank account after getting it. When the IRS's attempt to direct deposit fails, the agency will send you a rebate check.

The IRS says it soon will be putting an interactive feature on its Web site that will help taxpayers track the status of their rebates, similar to the "Where's My Refund?" page. Check later this week at www.irs.gov.