While many of us are in the thick of tax season, it seems like a good idea to revisit an article we posted in December.  The big news on TV and in print is the huge economic stimulus package that was signed into law last week.  However, many people can still qualify for LAST YEAR’S stimulus check if they didn’t already receive it. 

That’s because a little known detail on last year’s law was that Americans could use either their 2007 OR their 2008 tax return for eligibility.  You can read the full article here for complete details.

The Internal Revenue Service did post some reminders for people to help avoid recovery rebate credit confusion when completing their 2008 tax returns.  Part of it involves knowing exactly how much you received last year.  They have a handy and quick form to fill out that can show you the exact amount of the check you received.

Meanwhile, the IRS says that last week’s economic stimulus won’t have much impact on 2008 tax filings.  The majority of tax implications from the bill will be helpful when we file our 2009 taxes next year, such as being able to deduct state and local taxes on certain new vehicle purchases in 2009.

We are providing this information because we have many people contacting us with questions about how to use their tax refund most effectively to improve their credit scores.  We’ll be talking about tips and strategies to do just that throughout the week; be sure to subscribe to get the latest articles delivered directly to you.