Friday, July 2nd, 2010

Which tax form should I use to receive the recently passed tax credit?

tax credit
Tommmmmy asked:


I do not file taxes as I receive less than required to do so. Which form do I need to use in order to qualify for the recently passed tax credit offered as part of the economic stimulus plan?

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6 Responses to “Which tax form should I use to receive the recently passed tax credit?”

CRH Says:
July 2nd, 2010 at 9:55 am

The easiest way is to file a tax return even if you do not owe or get a return it gets you on file.

r_kav Says:
July 3rd, 2010 at 7:52 pm

Use the 1040A. You won’t get the rebate at that time. They don’t start sending the rebate checks until May.

Brian F Says:
July 6th, 2010 at 11:17 am

Use a 1040EZ form. You can find it at your local post office, and it is pretty simple to do. You must have made at least $3000 in 2007 to qualify.

DEB Says:
July 7th, 2010 at 3:00 am

The 1040EZ would be your best bet. If you’re over 25 and under 65 you may also want to check into the Earned Income Credit. Even without a child this can be claimed. It just won’t be as much as with a child. But it can get you extra money back on your taxes. It can get you over and above what you have actually paid in. You can go to IRS.GOV and it can help answer your questions as well as give you the forms you need to fill out. If you are being claimed by someone else as a dependent then you can’t take the Earned Income Credit and you won’t get the tax rebate check in May.

Judy Says:
July 8th, 2010 at 1:37 pm

You’ll need to file a return this year in order to get it. You will probably need a form 1040A.

Richard M Says:
July 9th, 2010 at 4:17 am

If you do not have to file, but have $3000 in “qualifying income”, including Social Security or certain Railroad Retirement benefits and veterans’ disability compensation, pension or survivors’ benefits received from the Department of Veterans Affairs in 2007, you need to file to receive your rebate.

A sample 1040A is at the link below.

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