Syracuse, New York (WSYR-TV) - According to the IRS, about 15 percent of those who have filed your taxes already, have made a mistake -- and most of the errors involve the recovery rebate credit associated with those stimulus payments we all got last year.
First off, you do not claim the stimulus payment on your tax return. That was essentially free money; it's not taxable and does not need to be repaid. There is some confusion with this, though, because a few of the tax prep sites ask you to enter the amount of your rebate -- but that's only to make sure you're not entitled to more.
There are a group of folks who'll be getting additional stimulus money; women who were pregnant and gave birth after they received their stimulus check will get another $300.
You'll also get that money if you were claimed as a dependent in 2007, but not in 2008, or, if for some reason, you didn't file a tax return last year.
If -- and only if -- you fall into one of these categories, you should apply for the recovery rebate credit. If you qualify, the money will be added to your federal return.
CLICK HERE for more information about rebate recovery credit.
