What is Recovery Rebate Credit?

Call America
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Jan 28, 2009 by Call America
Category: Tax Planning

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Bogie Boric
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Advisor: Bogie Boric, Tax Planning
Jan 28, 2009  
The recovery rebate credit is a one-time benefit for taxpayers that did not receive the full economic stimulus payment last year. You can add credit yourself to Form 1040 line 70, or let the IRS calculate it for you. This will either increase the amount of your tax refund or will lower the amount of taxes owed.