who need to claim that rebate credit on Form 1040 for instructions?
If you didn’t receive a stimulus check last year (or if received less than the full amount) and your circumstances have changed such that you now qualify (or qualify for more), then listen up… The “Recovery Rebate Credit” is a one-time tax credit that’s intended to make up for the unpaid portion of your stimulus payment if (and only if) you received less than you were due. Viewed another way, the stimulus checks that were sent out last year were simply a prepayment of this credit, such that you may not qualify for any additional payment at this time. Confused? Read on. Eligibility for the Recovery Rebate Credit If you fall into one of the following categories, you may be eligible for the credit: * Individuals who did not receive a stimulus check * Individuals who received less than the maximum amount * Families that gained a qualifying child during 2008 * Individuals that were claimed as a dependent on someone else’s return in 2007, but not in 2008 * Individuals who did not have a vali
