PS I meant to post this I just read in case it would make a difference to anyone else.
"Like many other people, Colleen Kilbreath of Westminster, Colo., thought eligibility for the program was based solely on what she had reported on her tax return for 2007 -- and assumed she wouldn't get anything because her income for that year was too high. Ms. Kilbreath, a construction-project manager, was laid off in June "and could really use the assistance," she wrote in a recent email.
For 2008, she says, her adjusted gross income will be about $50,000, well below the law's threshold, which means she should qualify for a recovery rebate credit when she files her 2008 return next year. "I did not know" that the law worked that way, she says. "I'm sure there are a ton of us out there that are in the dark."
Under the economic-stimulus law, which was enacted in February, eligibility for this tax break is based on your income and other factors, such as family size, as reported on your federal income-tax return for either 2007 or 2008, says Mark Luscombe, principal tax analyst at CCH, a Wolters Kluwers business.
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