If you are one among those people who haven’t received the full payment of the economic stimulus last year, you may be eligible now for a part or full of the portion unpaid because of the change in certain circumstances. For such people, recovery rebate credit can be a one-time benefit. A credit normally adds to your tax refund and at times it lowers the tax amount owed by you. This makes the amount you got in the recovery rebate credit amount will be added as be treated as a refund in your tax return.
There are certain categories which makes you eligible for recovery rebate credit. The ones who didn’t receive economic stimulus payment will form one category. People who got economic stimulus less than the highest quantity will also be eligible. Recovery rebate can also be availed by those families who had an extra qualifying child in the year 2008.
