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Wednesday, November 25, 2020

Does the IRS still owe you a $500 stimulus check for your kids? Here’s how to claim it this month

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You can still get your missing $500 stimulus payment for child dependents.

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Sarah Tew

If you didn’t receive the $500 payment for dependents you were owed with your initial stimulus check, you still have time to claim the money from the IRS. You can request the catch-up payment until Sept. 30 by using the IRS’ Non-Filers tool to submit information on your dependents and correct any errors from the first time around. 

The IRS said it will issue the catch-up payments by mid-October. If you don’t hit the September cutoff date, then you’ll have to wait until 2021 to claim your stimulus payment on behalf of eligible dependents. However, the IRS indicates that you shouldn’t use the tool yet if you plan on filing a 2019 tax return (for instance, if you filed for an Oct. 15 extension), as it will slow down the process.

Discussions about a second stimulus check are still ongoing, with many hoping that Republican and Democratic leaders can come to an agreement on the next coronavirus relief bill

Here’s what we know about claiming a $500 stimulus payment that was missing from the first round of relief. You can get an estimate for how much you could expect to receive using our stimulus check calculator. And if you still haven’t received your stimulus check, here’s an IRS phone number you can use to report a lost or missing payment. 

Eligibility requirements for the first stimulus payment

To qualify, the filer must be a US citizen, permanent resident or qualifying “resident alien”. They must also have a valid Social Security number, can’t be claimed as a dependent of another taxpayer and must have an adjusted gross income under $146,500 (heads of household) or $198,000 (married couples filing jointly).

The CARES Act stipulates a $500 allowance per child dependent in addition to the $1,200 cap for single filers and up to $2,400 for couples filing jointly. (We’ve calculated how much money you might be able to get if rules about dependents change for a second stimulus check.)

Here’s how the IRS defines a child dependent — there may be specific details you’ll want to explore if your child dependent is adopted, disabled (of any age) or a citizen of another country.

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You can either have the check sent to you or deposited in your account.


Sarah Tew

How do I file for my missing $500 dependent payment with the IRS?

To file for your missing $500 stimulus money, visit the Free File Fillable Forms site, select Get Started and create an account if you haven’t already. Then follow the posted instructions for filling out the form. You’ll need to provide your full name, mailing and email address, date of birth, Social Security number, bank account number (if you have one), driver’s license or state ID (if you have one), each qualifying child’s Social Security number and their relationship to you.

When you’re finished, you’ll receive a confirmation email. Your information will then be sent to the IRS so they can work on getting a check sent out to you, assuming you’re eligible.

How will I receive my extra $500 IRS payment?

You can either choose to have the check sent to you or you can set up direct deposit by providing your bank information. Generally, direct deposit is the quickest way to receive payments, especially with the USPS crisis delaying the mail.

The IRS will mail you Notice 1444 to confirm that it sent a payment of $500 per qualifying child. You’ll want to keep this letter for your records, especially since the letter may arrive at a different time from the payment.

When will I receive my $500 payment?

The IRS says it will begin issuing checks in October for those who meet the application deadline; you shouldn’t need to do anything else. However, if you’d like more information, you’ll be able to track the status of your IRS payment by visiting the IRS Get My Payment webpage. From there, you’ll need to provide your Social Security number, date of birth, home address and ZIP code.

For more information about stimulus payments, here’s how fast the IRS could send out a second stimulus payment and the stimulus check requirements. Also, will the stimulus package be split into smaller bills? Here’s what we know.

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