If you didn’t receive the full amount of the economic stimulus check last year because you didn’t qualify but your circumstances are different now, you may be eligible for all or some of the unpaid balance. This form of tax relief is called the Recovery Rebate Credit and it’s a onetime credit to you
You may qualify for the tax relief if:
- · You didn’t receive a stimulus check last year
- · You didn’t receive the full amount of the stimulus check last year because of income
- · You have another qualifying child in 2008
- · You were claimed on someone else’s taxes in 2007, but are no longer a dependent of theirs in 2008
- · You did not have a valid Social Security number in 2007 but received one in 2008
The recovery rebate credit is included in your tax return for 2008. It is not a separate check like the stimulus payment was. There will be a place to claim the recovery rebate credit on your 1040, 1040A or 1040EZ. The form instructions will tell you what line to put it in.
You may also choose to let the IRS figure the credit for you. If you mail your return in there will be instructions for you if you want them to figure it out or if you file electronically, it will automatically be figured.
You can also figure the credit out yourself. The IRS is providing two online tools to help you calculate the rebate. They are the Recovery Rebate Credit Calculator and How Much Was My 2008 Stimulus Payment? You can use the Calculator or there is a worksheet in the instruction booklet to help you calculate it by hand. In either case you will need to know the amount you’re received in your 2008 stimulus check. When the stimulus check was sent to you in 2008, it was sent on a Notice 1378. If you do not have your Notice 1378 you can go to the IRS tool How Much Was My 2008 Stimulus Payment to find out what that figure is. You may have received more than one Notice 1378; in this case you will need the total amount.
If your filing status changed in 2008 it may also have changed the total amount of your stimulus payment. You can refigure your stimulus payment to and use the new amount to figure your recovery rebate credit.