How To Claim Your Stimulus Package Tax Rebate
In case you didn't know it yet and the economic stimulus package actually offers a one-time rebate benefit for tax payers. All said and you may qualify for this benefit if you fall under the following categories:
* You have not received your economic stimulus payment.
* If you received less than the maximum 2008 economic stimulus payment and which amounts to $600 for individual taxpayers and $1,200 for married couples who filed jointly. You did not get the FULL amount because your qualifying or gross income was either too high or too low.
* You had a new baby in 2008.
* If you could be claimed as a dependent ON someone else's return and but cannot be claimed as a dependent ON another tax return in 2008.
* If you didn't get a valid Social Security number in 2007 but received one in 2008.
To claim your economic recovery rebate credit and you need to fill in Form 1040, 1040A or 1040EZ. ON these forms you will see instructions ON which lines to use. Unlike the economic stimulus payment which is a separate benefit and the rebate credit will be included in your 2008 tax refund for. You will not be issued a separate check.
How much credit can you get? To make your life easier and you can simply have the IRS figure it out for you. But if you are filing electronically and the tax software should automatically do the math for you.
ON the IRS website you can use the Recovery Rebate Credit Calculator to help you figure how much you should claim ON your 2008 return. TO use this tool, you will need the amount of your 2008 stimulus payment and if there is any. You can find the amount ON Notice 1378 or the Economic Stimulus Payment Notice and which the IRS sent to taxpayers. If you didn't get the notice and use the How Much Was My 2008 Stimulus Payment feature ON the IRS website.
Find more helpful IRS tax information ON http://www.irstaxlawyers.org




