Bigger and Faster Refunds! Click to start Do
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If you are due a refund, you can have it deposited directly into
your checking or savings account. There’s no waiting for a
check in the mail.
Through a refund anticipation loan, you can get
money in as little as 2 business day after IRS acceptance. The
Refund Anticipation Loan is a loan from a bank in the amount of your
refund. When the loan is approved, fees are deducted from the loan
amount and the balance of the loan is deposited to your bank account
or mailed to you by paper check. Your refund is used to pay back the
loan. Available again in January of 2009
Recovery Rebate Credit
Tax credit for 2008 only for people who did not
receive the economic stimulus
The recovery rebate credit is a special
federal tax credit for 2008 only. The credit is available for
individuals who did not apply for the economic stimulate rebate in
2007. The recovery rebate credit is also available for people who's
rebate is higher when calculated using their 2008 financial
information.
In
2007, Congress authorized the IRS to issue advance tax refunds
called the economic stimulus rebate. These advance rebates were
calculated using information from a person's 2007 tax return.
Some
people did not receive their stimulus rebate. Perhaps because they
did not file a return. Or perhaps because they filed their return
after the October 15th deadline. Or perhaps because they did not
qualify for the stimulus rebate because their income was too low or
too high.
Such
individuals are eligible to claim a recovery rebate credit. The
credit is calculated using the same criteria as the stimulus rebate.
The difference is the recovery rebate uses 2008 income information.
That means a change in your income or dependents might make you
eligible for a higher rebate amount.
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Learn more about the
Recovery Rebate Credit
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