Do You Qualify For Extra Tax Rebate Money From Last Year’s Stimulus?
Did you know that if you did not qualify for the tax rebate last year, you can try to qualify for it again this year? For instance, if your income was too high or you did not make enough last year to qualify for the rebate, you might be able to get it this year by asking for it on your 1040 form this year. According to the IRS, this credit is a new refundable credit that is related to the 2008 economic stimulus payment. Generally, a credit increases the amount of a refund or reduces the amount of taxes owed. Those who did not receive their economic stimulus payment (or did not receive what they were fully entitled to) in 2008 are eligible for the credit. Here are a few FAQ’s from the IRS website that will help you determine if you are eligible for the tax rebate this year: