CLEVELAND, Ohio – If you added a dependent child through birth or adoption in 2020, you’re likely entitled to larger payments from the two stimulus packages passed by Congress last year.
This is because the payments already sent out in most cases were tied to information the IRS had in hand from your 2019 or 2018 tax form. But the law permits you to receive amounts based on the number children you had under the age of 17 by the end of 2020.
Each child increases stimulus payments for their parent or parents by $500 in round one and $600 in round two. If you had more dependents than in previous years, you can claim the extra amounts in filing your 2020 taxes this winter or spring.
The calculations are made on the Recovery Rebate Credit Worksheet that is part of this year’s filing instructions.
Read more in-depth: That’s Rich! the personal finance column at cleveland.com and The Plain Dealer, provided more details about this and other special situations at this link – Here’s how to claim missing or bigger stimulus payments in filing 2020 taxes; young adults, new parents, others may now qualify.
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