Does 2008 Stimulus payment effect your tax returns?

Most people while filing for 2008 tax returns, when filing all the income they made, start to wonder if they should include the stimulus money they received during 2008 (bush administration).

The answer is; is should NOT be included as income (- IRS)

Here is the information relating to this topic extracted from IRS.gov.

"Most people received the maximum Economic Stimulus Payment in 2008. However, some people may be eligible for a first time credit or for a larger payment than they were eligible for last year.

This amount is called a Recovery Rebate Credit . You'll need to have the amount of your Stimulus Payment from last year so you can figure out whether or not you're eligible to receive this credit.

How Can I Find This Amount?
To use our secure online tool to find the amount of your Economic Stimulus Payment from last year, you'll need the following information from your 2007 tax return:

* Your Social Security Number
* Your 2007 Filing Status
* Number of Exemptions claimed on your 2007 tax return

Take me to How Much Was My 2008 Stimulus Payment? "