How to get $500 stimulus for daughter born in 2019

Question

Hi!

This question is for folks keeping up with the upcoming stimulus. It sounds like the IRS is administering sending funds for folks, at that $1200 / person + $500 per kid/dependent. The trick is we haven't filed our 2019 taxes yet, and we had Sarah born 4/30/2019. I'm wondering if anyone knows how we can ensure the IRS has records of our newest addition so we don't get left out of that other $500. Maybe there's a form? Maybe they have it covered if they're working with the Social Security administration, etc.?

Thanks in advance.

Adam Rasmussen · Answer

First of all congrats on the new baby!

From what I've heard since the IRS has no way of knowing you have an additional child, there will be a $500 credit on your 2020 taxes. Not sure how that is supposed to immediately stimulate the economy but that is what I've read.

Account Closed · Answer

I just got this article in my inbox from The New York Times this morning that spells out all of the benefits so far. It says you should file your taxes now if your circumstances have changed for 2019 to make you eligible in a way different from your 2018 taxes: https://www.nytimes.com/article/coronavirus-stimulus-package-questions-answers.html?campaign_id=9&emc=edit_NN_p_20200327&instance_id=17106&nl=morning-briefing®i_id=72309497§ion=topNews&segment_id=23038&te=1&user_id=dc1800f7e527804c671759a9f7e67bb8

I would suppose you could file your taxes, but not actually pay anything owed (if it's owed) yet, or even file an incorrect one and correct it later, but get the fact noted that you have another child? Not a tax expert, but you could pose that question in the tax forum.

Basit Siddiqi · Answer

@Jim GoebelThis is an advance credit - if a return wasn't filed at this point - you will likely have to reconcile the $500 when you file the 2020 tax return.

Andrew B. · Answer

From what I’ve read there is no system in place to send them the correct information if your most recent tax return does not reflect it. However, it’s technically a 2020 tax credit, that is being released early, so if you qualify in 2020 and don’t get it, you technically should be able to claim the extra $500 when you file 2020 taxes.

How to get $500 stimulus for daughter born in 2019

How to get $500 stimulus for daughter born in 2019

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