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If You Had A Baby In 2020, You May Be Able To Get Paid!!

If You Had A Baby In 2020, You May Be Able To Get Paid!!
Jan 5, 2021 · 1m 39s

A little bit of a tip for you if this applies: If you had a baby in 2020, you may be able to get free money! This is no joke!...

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A little bit of a tip for you if this applies: If you had a baby in 2020, you may be able to get free money!

This is no joke! Eligible parents who welcomed a new baby in 2020 and haven’t received an economic impact payment for their child as a dependent could qualify for up to $1,100 of extra stimulus money, according to an MSN report.

Children born between Jan. 1 and Dec. 31 of 2020 qualify for both stimulus payments if their parents meet income limits: $500 from the first check and $600 from the second round.

The reason why some stimulus check recipients may have missed out on the extra cash is that the Treasury and IRS used 2019 tax returns to calculate the automatic payments, which would not have included babies born in 2020.

To get the extra stimulus money for your baby (if you haven’t already received the dependent stimulus cash), you will need to file a tax return and get the money the IRS owes you as a recovery rebate credit.

The credit is made possible by the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Any eligible person who did not receive their stimulus checks can claim the recovery rebate credit on a 2020 Form 1040 or Form 1040-SR.

If you had a baby in 2020, this little surprise may make for a great start to 2021!
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Author 90.9 KCBI-FM
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