Oops! You’ve discovered an error after your tax return has been filed or maybe you need to adjust your 2007 return to include certain non-taxable benefits to reach the $3000 qualifying income level to qualify for an economic stimulus payment. What should you do? You may need to amend your return.
(Note: Generally, the payment of economic stimulus payments is based on the information from your original 2007 federal tax return. However, the only item on an amended return that will affect the economic stimulus payment is when including certain non-taxable benefits not included on the original return. This must be the only reason you were not eligible for the economic stimulus payment on the original return.)
The IRS usually corrects math errors or requests missing forms – such as W-2s or schedules – when processing an original return. In these instances, do not amend your return. However, you should file an amended return if any of the following were reported incorrectly:
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