To qualify for the 2008 stimulus check, your income had to be below certain levels. If you have recently heard about a possible 2009 economic stimulus check package there may be a chance that you could receive one of these checks in the upcoming year. There has been a tax law change that may make this possible.
To receive the 2008 stimulus check there were many factors to be considered in your eligibility such as: Family size and income.
If you did not receive a stimulus check payment in 2008 based on your 2007 return you may now qualify for a recovery rebate check. This will be based on your 2008 earnings that you will file in 2009. They will take certain situations in to consideration. If you had a child in 2008 then you may be able be eligible as well.
There is a twist however in receiving this rebate. The government will not automatically send you a check if you qualify. You must claim this economic stimulus tax rebate on your 2008 tax return. This could be a huge potential credit for many tax payers that have been laid off or hit hard by the current economic situation. You can calculate your economic stimulus payment by using a tax estimator tool at TurboTax Online.The current plan for an additional stimulus payment is being considered in congress and should either happen soon or after Obama is sworn in as president.
We recommend using some type of tax software to prepare your return, especially if you qualify for this new additional credit. A tax preparation service such as TurboTax will automatically alert you if you qualify and guide you through the steps.
Try the free tax calculator at TurboTax to estimate your tax refund in advance.
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