Jan 30 2009

Have a baby in 2008? Get $300 from Uncle Sam


Remember the economic stimulus checks many of us received during the spring/summer of 2008? If you had a baby in 2008, depending on your income, you might be able to file for a “recovery rebate credit” and get $300 back on your federal tax return.

When the stimulus package was rolled out, eligible singles got $600, married couples got $1,200, and each qualifying child added $300 to the parents’ stimulus checks.

Apparently, the $300 per child was intended for children existing in 2008 — even if they were born after the stimulus checks went into effect.

If your income meets the qualifications, look into the recovery rebate when you file your 2008 taxes. You’ll get your money as a part of your federal tax refund. If you will owe money, the recovery rebate will reduce your obligation by $300.

Also, according to the IRS, these people might qualify for the recovery rebate:

  • Individuals who did not receive an economic stimulus payment.

  • Those who received less than the maximum economic stimulus payment in 2008 — $600 per taxpayer; $1,200 if married filing jointly — because their qualifying or gross income was either too high or too low.

  • Families who gained an additional qualifying child in 2008.

  • Individuals who could be claimed as a dependent on someone else’s tax return in 2007, but who cannot be claimed as a dependent on another return in 2008.

  • Individuals who did not have a valid Social Security number in 2007 but who did receive one in 2008.

(Hat-tip to the Consumer Reports blog)

Posted under Uncategorized | 12 Comments »

12 Responses to “Have a baby in 2008? Get $300 from Uncle Sam”

  1. Yay, we’ll be getting an extra $300!!! Thanks for the heads up!

  2. My DH told me this yesterday! YAY! We are going to use the extra $$ to invest in cloth diapers (which will end up being much, MUCH cheaper in the long run).

  3. I guess my original comment did not go through?

    I wrote:

    Yay! My DH told me about this last night. We’re going to use the money to invest in cloth diapers, which should save us a lot of money in the long run!

    VanderbiltWife’s last blog post..‘Fro Me to You: The Hidden Years

  4. Thanks for this heads up – we will also be getting an additional $300! :)

    Promises Fulfilled’s last blog post..“On The Mend”

  5. So if my parents would have claimed me as a dependent on last year’s return, but I have since graduated and got a big-girl job, I can get $600 since I’m no longer a dependent? Possibly?!

  6. Kasey- Seems like that’s a “maybe.” My understanding is the $300 was for each child under the age of 17, so maybe they didn’t get that money for you at all. Do you know?

    Anyway, my interpretation of it would be that you would be entitled to that $600, but since I’m not writing the checks, you’d have to check with the IRS to be certain.

    Worth a shot!

  7. Thanks! I don’t know if my husband knows about this, but he will soon because I just emailed him your post. An extra $300 would be really nice right now!

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Hey! I'm Kacie, wife and mother of 3. I write about my family's finance: how we save money, improve our spending, and plan for the future.

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