The round of stimulus checks that were given out in 2008 was based on your income from 2007. Many Americans did not receive the full amount or nothing at all due to high income. As many Americans have lost jobs and a large source of their income they may now be able to receive the money from the 2008 stimulus checks.
This second distribution of stimulus checks will be called the recovery rebate credit. This will need to be filed on your 2008 return in 2009. This will also help out those families that had a child during 2008 and may now be able to receive an additional credit for that child.
The payment amounts will still be the same. Those individuals who paid income tax are able to receive up to $600.00 and couples are eligible to receive up to $1,200.00. Each eligible child can result in an additional $300.00. These amounts will begin to decrease as income rises above $75,000.00 for single filers and $150.00 for those filing jointly.
If you feel that you were entitled to a stimulus check and you still have not received it, it may be due to an address error. The government still has over $103 million dollars in payments that were returned because of an invalid address.
These can be easily updated through the IRS and then they will automatically send out your check.
TurboTax Online will automatically alert you know if you are eligible for the recovery rebate credit.
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TurboTax Online to file your return and have a second chance at a stimulus payment.