Stimulus Tax Credit Help from the IRS

April 13, 2010

The Stimulus tax credit reduced the amount of taxes owed for millions of people but as the tax deadline nears, the IRS is finding out that many of us aren’t taking advantage of it when filing our taxes.

Remember the Schedule M Tax Form

In order to get the stimulus tax credit you have to fill out the Schedule M tax form and lots of people are simply forgetting to do so.  Whether they’re manually filing their tax return or using some of the best tax software on the market, taxpayers are missing the stimulus tax opportunity.

IRS Helps With Stimulus Tax Credit

Luckily for all of us that don’t file a Schedule M, the IRS is actually correcting our errors so that we can take the stimulus tax credit, according to the New York Times. I did a double take when I read that. I typically think of the IRS as trying to maximimze the amount of taxes that we pay so I was pleased to read that they’re working to make sure we take the stimulus tax credit if we qualify for it. 

Of course, you should still file your tax return as correctly as possible.  You don’t really want to rely on the IRS to help you take the 2009 tax credits.  One thing to keep in mind is that all the extra work of correcting tax returns is putting a load on the IRS tax centers, which could potentially delay your tax refund if you have one coming.

If you still haven’t done your taxes yet, don’t forget you can still file taxes online and easily meet the deadline!


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Ben Edwards, the founder of Money Smart Life, saved up enough to buy a Nintendo back when he was 12 years old. When he used the money to buy shares of Wal-Mart stock instead, he knew he wasn't like the other kids... His addiction to personal finance has paid off for his family and now he's helping you to afford the life that you want. Check him out on the web at Google Plus, Twitter and Facebook.

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