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Archive for Recovery Rebate Credit

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Nine Common Errors Made on Tax Returns

Errors made on tax returns may delay the processing of your return and the arrival of your refund. Avoiding the common errors below will help ensure your refund arrives on time:

Recovery Rebate Credit – Many returns filed in 2009 have errors involving the Recovery Rebate Credit, a credit for people who did not receive a [...]

How to Correctly Claim the Recovery Rebate Credit on your 2008 Return

The IRS sent taxpayers nearly 119 million economic stimulus payments last year. When filing a 2008 federal tax return, taxpayers will need to know the amount of their stimulus payment to properly determine if they are eligible for a recovery rebate credit.

Do I Need To File A Tax Return?

Do I Need To File A Tax Return?

For many first-time filers and low-income filers, it can be confusing to determine whether or not you need to file a tax return at all. How much do you need to make in order to be required to pay taxes? Is it possible to get a tax refund for taxes you’ve already paid from withheld [...]

Stimulus Checks Confuse 2008 Tax Filers

Stimulus Checks Confuse 2008 Tax Filers

The Internal Revenue Service has already determined that many early tax filers have mistakenly attempted to double-dip on new tax credits that began with last year’s stimulus checks, the agency announced this week.
The IRS recently reported that approximately 15% of filers so far have made mistakes relating to the rebate. The IRS is catching the [...]

Tips To Avoid Errors On IRS’s Recovery Rebate Credit

WASHINGTON –– In response to errors showing up on early tax filings, the Internal Revenue Service today urged taxpayers and tax preparers to make sure they properly determine eligibility for the recovery rebate credit before they file their 2008 federal tax returns.
Some individuals who did not get the economic stimulus payment, and a smaller number [...]

Four Tips to Help Taxpayers Avoid Errors On the Recovery Rebate Credit

Most taxpayers who received the economic stimulus payment last year will not be able to claim the Recovery Rebate Credit on their 2008 federal income tax returns. A small number of taxpayers who did not receive the full economic stimulus payment last year may be eligible to claim the Recovery Rebate Credit on their 2008 [...]