2009 Economic Stimulus Amount

Show me the money! Are you starting to feel this way about your 2009 economic stimulus rebate? We can all use a little extra cash in our pockets right now. You might be wondering just how much you might receive.

The standard amounts of the 2008 economic stimulus rebate are listed below,

• If you are eligible – Between $300 and $600

• If you are filing jointly – Between $600 and $1,200

• If you have eligible children – An extra $300 for each qualifying child

You might be saying, “Hey, wait a minute, that’s the amount from last year!” That’s right. If you received the full amount you were entitled to last year then, you probably will not receive the Recovery Rebate Credit this year.

The IRS sent out Form 1378 with the economic stimulus checks last year. You will need that form for a record of that amount. While preparing your income taxes this year, there will be a space asking for the exact amount of any monies you may have received.

Now I know some of you have lost your forms and have no idea how much you received. Don’t worry you can go to the IRS website to see exactly how much you got. You can call if you want to.

You Will Need This Information Handy If You Call:

• Your filing status

• Your social security number

• How many exemptions you claimed

If you did not receive a credit last year and are wondering if you’re eligible, here are some of the guidelines.

• Do you have at least $3,000 in qualifying income?

• Do you and your family members have valid Social Security numbers?

• Are you a dependent on someone else’s Federal tax return?

• Don’t forget about the other types of income, Social Security, Veterans Affairs, Railroad Retirement and Earned Income

You may be surprised to know about some other facts concerning the 2009 Economic Stimulus Amount. Did you know that if you were overpaid, the IRS will let you keep it without any tax liability?

To find out more interesting facts about the Recovery Rebate Credit or the Economic Stimulus Credit, visit TurboTax today. You may have a lot more in your wallet by letting the Turbo Tax software calculate your 2008 income tax return.