In reality the stimulus payment is a credit on the 2008 tax return. Therefore if someone did not receive any/all of the stimulus payment that is allowable on the 2008 tax return they get the difference on the return. For example if a single taxpayer only received $400 stimulus payment, since that was the amount computed from the 2007 tax return, but is entitled to a larger amount on the 2008 he/she will receive in the computation the difference. Therefore to that extent, the stimulus payment received is deducted from their refund on the 2008 tax return. If a person goes to the irs.gov website and then puts in the search box 2009 1040 draft. You will get the complete 1040 draft forms including the worksheet for the computation of the stimulus payment to determine if more stimulus payment is entitled to the taxpayer.

But as I wrote Taxguy.com Persons had always filed MFJ tax returns in the past. They have 3 children all under the age of 17 their stimulus payment was therefore $2100.00 If they file 2008 tax returns MFS and the mother should claim all 3 children, she would show on her return she received $1050 stimulus. She is entitled to $1500 (600 herself, 300 each child) she would receive the other $450 on the 2008 tax return and the husband does not have to repay the overpayment he received. I believe thousands (perhaps millions) will cheat themselves on their returns since they will not realize that this year, as in 2001 tax returns, they should file MFS and tax advantage of this legal loophole

Jeff Day EA
Evansville, IN