Coronavirus stimulus check: Deadline is Wednesday to claim a $500 benefit for kids
The majority of Americans who had dependents on either their 2018 or 2019 tax return won’t have to take any further action to receive the $500 per child stimulus payments. But a number of taxpayers need to take action by Wednesday in order to avoid a lengthy delay.
Coronavirus stimulus checks began going out last week, and included as part of the direct payment to families is an additional $500 for every eligible child. But many parents will need to take action by Wednesday, or they’ll have to wait until next year to receive the money.
The plan provides $1,200 for each eligible adult and $500 for each child under the age of 17. So a married couple with two children that meet the income threshold are owed $3,400. The full eligibility requirements for the coronavirus stimulus payments can be found on the IRS website.
The majority of Americans who had dependents on either their 2018 or 2019 tax return won’t have to take any further action to receive the $500-per-child stimulus payments. But a number of taxpayers need to take action by Wednesday to avoid a lengthy delay.
» READ MORE: ‘We are forgotten’: Despite mounting costs, college students are excluded from $1,200 stimulus checks
Here’s what you need to do to claim the $500 payment for eligible children:
Social Security, disability, or veterans benefits recipients
Individuals receiving Social Security, disability, veterans benefits, or Railroad Retirement benefits will automatically receive their $1,200 stimulus check without taking any action.
However, if you fall under one of these categories and have eligible children under the age of 17, the IRS says you need to use the “Non-Filers” tool on their website to claim the $500 payment you’re owed. The IRS says the tool will request basic information to confirm eligibility, calculate your payment, and send it to you:
Full names and Social Security numbers, including for spouse and dependents
Current mailing address
Bank account type, account and routing numbers (leave blank if you receive your benefits through Direct Express)
The deadline to enter the information is noon Eastern time on Wednesday, April 22. Otherwise, the additional $500-per-child amount will be paid when you file your 2020 tax return next year.
The IRS said Supplemental Security Income recipients will have longer than Wednesday to provide their information, but didn’t specify a deadline.
I didn’t receive $500 stimulus payment for all my children
Some parents have reported not receiving $500 checks for every child, even though they appear to be eligible.
If the information for your children was included on either your 2018 or 2019 tax return, the IRS says you shouldn’t have to take any extra steps. The IRS suggests checking the “Get My Payment” page to make sure the agency has the correct data.
In circumstances where an error occurred or the IRS needs to investigate further, a Treasury spokesperson said, the payment would come separately at a later date.
Are children born or adopted in 2020 eligible for $500 stimulus payment?
If your child was born in 2020, or you adopted a child this year, you are still eligible for the $500 payment. You just won’t receive it this year.
Instead, the IRS says you will receive the extra $500 as part of your tax refund (or subtracted from your tax bill) when you file your 2020 tax returns next year.
Why aren’t kids and other dependents older than 16 eligible for $500 stimulus payment?
When Congress wrote the rules for the economic stimulus checks, they based it on what lawmakers did in 2008, which excluded dependents over the age of 16 — mainly high school students and young college students, but also some disabled and elderly people who are claimed by the people they live with and provide most of their support.
“Dependents, by definition, aren’t responsible for a majority of their financial support,” Michael Zona, a spokesperson for the Senate Finance Committee, told the Wall Street Journal. “The goal of the recovery rebates is to provide support for Americans who are responsible for their own financial well-being or that of another during this pandemic.”