IRS Offering Tax Tips

Anyone can trip up when filing tax returns, from seniors on fixed incomes to former senators.

But taxpayers will get a second chance to cash in on last year's economic stimulus payment with the recovery rebate credit.

The Internal Revenue Service has responded to the high number of errors on early tax filings, according to a recent media announcement. It is urging taxpayers and preparers alike to make sure they determine eligibility for the rebate.

"The rebate is for people who didn't apply in time (in 2008) or qualify," said Stephen May, a tax specialist for Amscot. "If your status has changed, it's possible you could qualify for money this year."

For instance, May said those who received the full $600 last year, but had a child since last year's filing, could be eligible for another $300.

The IRS stated in a media release that "some individuals who did not get the economic stimulus payment, and a smaller number who did, may be eligible for the recovery rebate credit."

However, most people who received payment last year, will "not qualify for the credit on their" upcoming tax return.

The IRS mailed nearly 119 million stimulus payments last year.

There are three ways people can find out how much they received - check the amount listed on Notice 1378 (mailed last year to those who received payment), visit the IRS Web site at IRS.gov and click on the "How Much Was My Stimulus Payment" tool or call the IRS at 1-866-234-2942.

You might be eligible for an IRS recovery rebate if:

•You did not receive an economic stimulus payment in 2008

•You received less than the maximum economic stimulus payment - $600 per taxpayer

•You gained an additional qualifying child in 2008

•You could be claimed as a dependent on someone else's return in 2007, but not on another return in 2008

•You did not have a valid Social Security number in 2007, but did receive one in 2008