What is the Recovery Rebate Credit?
The recovery rebate credit is a one-time benefit for people who
did not get the full economic stimulus payment last year but whose
circumstances have changed.
Who can get the Recovery Rebate Credit?
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Those who did not receive an economic stimulus
payment in 2008
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Those who received less than the maximum economic stimulus
payment in 2008 — $600 per taxpayer; $1,200 if married filing
jointly — because their income was too
high or too low.
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Families who gained an additional
qualifying child in 2008
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Those who could be claimed as a dependent on someone
else’s tax return in 2007, but cannot be claimed as a
dependent on another return in 2008.
-
Those who did not have a valid Social Security number
in 2007 but who received one in 2008.
How to Get the Recovery Rebate Credit?
You need to fill Form 1040,
1040A or 1040EZ. The instructions for these forms will show you
which lines to use. The
recovery rebate credit will be included in your tax refund for
2008 and will not be a separate payment.
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