Remember the recovery rebate credit you probably received last year? The $150 billion plus program (which now seems pretty small, actually) was designed to stimulate the economy by providing $600 per adult and $300 per child, stated simply.
However, you can still claim additional credits on your 2008 taxes if your family circumstances have changed.
Take a family going into last year with a husband, wife, and child. They would have received $1,500. However, let’s say they had another child in May. This family would not have received the additional $300. However, you can include this on your 2008 tax return to claim the additional credit.
There could be other circumstances under which the amount of credit would change, so make sure you take a close look at line 70 on IRS form 1040 to maximize your benefit.
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