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Taxpayers who do not pay income tax, but have at least $3,000 in qualifying income and did not receive the economic stimulus payment (ESP) based on their 2007 return, or received a reduced payment amount, may be eligible for a Recovery Rebate Credit (RRC) on their 2008 return.
The RRC is calculated:
- Based on income taxes for the 2008 tax year
- By reducing the RRC by the ESP received in 2008
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