Is it too late to get recovery rebate credit?
Someone I know hasn’t filed 2007, 2008, or 2009 taxes yet…they have refunds due.
My question is it too late to get the recovery rebate credit for a single person? I believe it is to be included in 2008 return and should be $300? So $300 should be added to the 2008 return when 2008 taxes are filed, correct? Thanks
Comments (4)
No, not correct – the time limit on the recovery rebate is long since expired. The person can still get their regular refund though.
“Someone I know hasn’t filed 2007, 2008, or 2009 taxes yet”
The time period just expired for getting a 2006 refund. You need to file these years to get a refund and to maintain good standing with the IRS. If you don’t file in time, you do not qualify for any rebates, although you may still be eligible for some credits. A good example is the Making Work Pay credit in 2009. If “your friend” worked in 2009 he/she may be eligible for the $400 credit.
Regardless, get your friend caught up before the IRS starts biting back.
The line on the 2008 for the recovery rebate credit is still valid. The individual MUST have had paid taxes or had enough income to qualify.
Even if you file without it, the computer will verify that he did not get it as a check based on his 2007 taxes and will recalculate the amount remaining based on the 2008 taxes.
the stimulus paid in 2007 was on timely filed returns
and no,you are too late for that
but if you need to file those back years, it would be wise to do so asap
the amount in 2008 was a ‘clean up’, if a taxpayer didn’t receive what they were scheduled to get in 2007 was made up in 2008