Tax 2008 – Recovery Rebate Credit
As tax season (Tax 2008) have arrived and people have started getting W-2 forms I came to know about Recovery Rebate Credit.
Who is eligible and who will get this Recovery Rebate Credit?
As you read in the above link, you can get this money ($600 for person filing as a single or $1200 for married person filing jointly and $300 for each child) if you have not received economic stimulus package last year. There were many case like mentioned below where tax payer didn’t get this money last year
1) Entered incorrect SSN number
2) Entered ITIN number instead of SSN number
3) Not eligible since not falling under that particular income bracket who were receiving this package
4) Not eligible because of filing status
5) Received partially
and so on.
I fall under no. 4 as my status have been changed from single to married last year and in year 2007 I was single and I didn’t receive economic stimulus package.
This is same as last year’s (tax 2007) economic stimulus package with only difference that it will be decided on the basis of current income/status of filing and last year’s tax data (whether you have already received it or not).
) at Capitol Hill for the famous and historical moment in American History. President elect Barack Obama will sworn in tomorrow and will be first Black President of United States.