Saturday, February 14, 2009

Second Chance for the Recovery Rebates of 2008

Didn't get the full--or for that matter, ANY--recovery check last year from the IRS? You may be in line to get some this year. Some people who didn't get their recovery rebate last year may be eligible to get one this year. Do you fall into one of these categories?
  • Individuals who did not receive an economic stimulus payment.

  • Those who received less than the maximum economic stimulus payment in 2008 — $600 per taxpayer; $1,200 if married filing jointly — because their qualifying or gross income was either too high or too low.

  • Families who gained an additional qualifying child in 2008.

  • Individuals who could be claimed as a dependent on someone else’s tax return in 2007, but who cannot be claimed as a dependent on another return in 2008.

  • Individuals who did not have a valid Social Security number in 2007 but who did receive one in 2008.
If you fall into one of those groups, see the IRS page. More information is available in their Q and A page. Your kickback will not be in the form of a separate check, as it was in 2008, but in a reduction of your current tax bill or a bigger refund. People who got their full rebate check last year are generally not eligible. But if you didn't...don't let this ship sail without checking the web sites above.

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