You can still apply to claim the missing $ 500 from your stimulus check.
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If you could not meet the deadline in November to claim $ 500 dollars for each qualifying dependent child who was mistakenly left out of the first stimulus check, your second chance is coming.
The same general process applies to people who did not receive the $ 600 that corresponds to you for each dependent child of the second stimulus check. You can claim both amounts of money as one Recovery Refund Credit when you file your 2020 tax return this year.
Parents who pay or receive child support may be entitled to receive $ 500 dollars each for each dependent with the first stimulus check, but you must share custody of a minor dependent and may have to file a claim this year to get payment. In some cases, the Internal Revenue Service (IRS) may also garnish your stimulus check to pay off child support debts (that rule doesn’t apply to the second check).
Related: Two IRS providers will offer an application in Spanish to prepare your tax return and receive your second stimulus check.
How do I know if I am entitled to a stimulus check if I have children?
To be eligible for a payment, you must be a US citizen, permanent resident, or eligible resident alien. You must also have a Social Security number and cannot be claimed as a dependent of another taxpayer.
This is where things get tricky. At first glance the rules for claiming your first stimulus check, with or without a dependent child, included having an adjusted gross income less than $ 99,000 dollars for singles, $ 146,500 dollars for heads of family or $ 198,000 dollars for couples filing a joint tax return. But because of the way the IRS calculates your stimulus check, you may actually be entitled to some extra money if you claim less on your taxes, even if you exceed the income limit.
The CARES Act of March 2020 stipulates a subsidy of $ 500 per dependent minor, in addition to the cap of $ 1,200 dollars for single filers and up to $ 2,400 dollars for couples filing jointly.
Related: Brace yourself: IRS delays in paying the stimulus check and tax refund will continue into 2021, a report says.
How can I claim the missing $ 500 per child?
When you file your tax return this year, you can claim the additional amount on behalf of eligible dependents.
Depending on the IRS, if you did not receive an economic impact payment or the full amount that you think you are entitled to, you will be able to claim the additional amount when you file your 2020 tax return in 2021. This is called Recovery Refund Credit.
You can use the Recovery Refund Credit on Form 1040 or Form 1040-SR for 2020 to claim a recovery payment. The IRS will provide you with a credit recovery recovery sheet to help you determine if you are missing a payment.
You can track the status of your payment to the IRS by visiting the IRS website Get My Payment. From there, you will have to provide your Social Security number, date of birth, address, and zip code.
Here’s what we know so far about a third stimulus check and what might be delaying your new payment.
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