Do you remember last year when President Bush issued an Economic Stimulus Payment to most US taxpayers?  If not, or if you didn’t get your payment,  or even if you only received a portion of what you were eligible to get…you could qualify for the Recovery Rebate Credit (RRC) this tax season.   What does that mean to you?  It could mean more money if your wallet!  The RRC could be worth as much as $1,200 (plus $300 for each qualifying child) if  you are married and filing a joint return.

Most taxpayers will not receive anything for the Recovery Rebate Credit, because they got their Economic Stimulus Payment last year.  Regardless of whether you can claim the RRC this tax season, all taxpayers must enter the amount of their 2008 Stimulus Payment on their tax returns this year.  The amount of your Economic Stimulus Payment was sent to you prior to the actual payment on IRS Notice 1378.

Not sure if you received your Stimulus check last year?  You can find out from the  IRS, with their How Much Was My 2008 Stimulus Payment? tool.  You will need your social security number, your filing status from 2007, and the total number of exemptions you had on your 2007 return.

To find out more about this credit, go to the IRS Recovery Rebate Credit Information Center.