Wal-Mart Customers Spending Rebate Checks

Posted by accountingweb on Jul 31 2001 158 printer friendly

The first wave of income tax rebate checks has been mailed by the Treasury Department and received by taxpayers whose Social Security numbers end in 00-09. Checks to taxpayers with Social Security numbers ending in 10-19 are being mailed this week. The full timetable of mailings has been published by the IRS and is based on the last two digits of the Social Security number as follows:

00 - 09 - July 23
10 - 19 - July 30
20 - 29 - August 6
30 - 39 - August 13
40 - 49 - August 20
50 - 59 - August 27
60 - 69 - September 3
70 - 79 - September 10
80 - 89 - September 17
90 - 99 - September 24

Meanwhile, an advertising campaign offering to cash the rebate checks for free is apparently paying off for Wal-Mart.

The Arkansas-based store reports that 25 percent to 30 percent of the checks that are being cashed at Walmart stores are being spent on merchandise in those stores.

Voice of the Editor

Even though any accounting auditor would tell you it seems like there are an awful lot of tax accountants out there, surely one-third of the country isn't made up of tax preparers, so it's rather startling news to learn that one-third of Americans like to do their taxes. Who knew?

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