Stimulus Check Causing Confusion

The IRS says its is already seeing a trend of filers making errors when it comes to the “recovery rebate credit.” Line 70 on the 1040 form is intended to catch anyone who may not have received the full amount last year when the federal government was mailing out 119 million stimulus checks. The checks were technically an advance on a 2008 tax credit. IRS spokesperson David Stewart says some people do not seem to know what to do with the line and are putting in the wrong number. He says most filers should be entering zero or leaving the line blank. Anyone who added a dependent in 2008, are filing an income tax return for the first time, or did not get the full amount in their rebate check need to fill out the two page work sheet and then enter the right number. Stewart says, “That baby born in 2008 is worth an additional $300.” Stewart says the best way to avoid making an error is to use electronic filing. If you do not remember the size of your rebate check the IRS has that information. You can get it by calling 1-866-234-2942 or at IRS.GOV. Anyone who was over paid does not have to return the money to the IRS.