Recovery Rebate Credit

Some taxpayers may file for the Recovery Rebate Credit for 2008. St. Paul IRS Spokeswoman Carrie Resch says most will not qualify, but those who had a change in their job situation last year, and did not receive the maximum $600 rebate, may be able to file for it now on form 1040. Resch says if there was a birth or an adoption in the family, there may be an additional $300 credit. She says there has been a high rate of error in filing for the credit. Taxpayers must use the worksheet before entering the figure on the tax form.
Last year's rebate is not taxable.