Second Chance at 2008 Stimulus Check
If you didn’t receive your full rebate check a few months back, you may still be eligible to apply for the remainder of your stimulus if you made less in 2008 then in 2007. The original stimulus checks were rushed out with the hopes of a magical boost to our ailing economy. Because they were rushed out, the IRS used our 2007 return as a basis to determine the amount to send to each taxpayer. However, the stimulus checks are actually tax credits for 2008, meaning you were prepaid your credit. So, you may be eligible to claim the remainder of your check if your income is under the following requirements.
Single filers received a $600 rebate and married couples received $1200 rebate plus an additional $300 per dependent younger than 17. You received these amounts if you your gross income for 2007 income was less than $75,000/single filers or $150,000/married filers. If you earned more than this, then your rebate check was reduced $50 for every $1,000 above the limits. The rebate phased out completely at $87,000 for single filers without dependents and $174,000 for married filers without dependents.
You may need to read this twice, but stay with me, were getting to the punch line. If you earned more than the maximums mentioned above in 2007 and didn’t receive your full rebate, but earned less then the minimums in 2008, then you are eligible to file for the rest of your stimulus check with your 2008 taxes. Why? Because it was actually a prepayment credit on your 2008 taxes using your 2007 income figures. Also, if you had kids in 2008, congratulations, because you can still claim your $300 credit to buy some diapers. Lastly, if you didn’t qualify for the rebate because you were claimed as a dependent in 2007 but not in 2008 you can file to get your full rebate–young filers take note.
If you qualify for the remainder of your stimulus, it will be added to your 2008 Federal refund. You can figure out the credit when you file form 1040 for 2008. Or if you using a tax software, it should ask you questions leading to your additional payment.
Let us recap:
- If you didn’t receive a full stimulus and made less in 2007 then in 2008 you may be eligible for the remainder of your stimulus.
- If you had kids in 2008 you can get the $300 dependent stimulus with your 2008 return.
- If you didn’t get a rebate because you were claimed as a dependent in 2007, but are filing on your own in 2008, you can receive your stimulus with your 2008 return. $
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Comments
My AGI for 2007 was 11562.00. I did not owe anything but never recieved my stinulus check for 2008
My husband and I made over the $174000 limit last year and didn’t get a check at all. This year our income has dropped significantly – I’m estimating about 130000. How do we go about getting a rebate check? Will this be automatically sent once we file our 2008 taxes?
If i filed my taxes with jackson hewit will i get my stimlus check there or thrue the mail
There will not be a rebate check sent to you like with the last stimulus. There will be some perks that you will likely receive through tax credits and other programs. Check back soon for a post specifically breaking down the new stimulus and it’s affect on the people.
I went through turbotax, who said I’m eligible for $300 from the rebate that they didn’t give me last year, but I just received my federal return without the rebate. any update on how i’ll be receiving the rebate?
my father lee williams died on April 26,2009,he recieved his check an it went to his account ,i,m his daughter that had power attrony ,i want to know will you send the check back to pay his debet,and will you check he never recived the first check that you’ll sent out for 300.00 i need it all if you sent it back i dont want my daddy to have a bad credit even dead.thank you Mary Martin
I Never did get my First stimulus check.I’m on disibility and never knew how to apply for it.I was last employed on Jan,1 1906 at Wal-mart.
My husband Warren White Richmond died in 9-11-07.I never got a stimulous check at any time.Would I get any stimulous checks,let me know.
So from what I am understanding by reading this, being that I am married and earned less than 75,000 in 2007 and got a stimulus check and also earned less in 2008 than I did in 2007. Does this mean that I won’t receive any more money from the stimulus plan after filing this year? Just curious.