Tax guide

Will I get the $500 stimulus payment for my child born in 2020?

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Since the IRS is basing your CARES Act stimulus payment on your 2019 or 2018 tax return, you likely won’t. However, when you file your 2020 taxes in 2021, you should be able to claim that $500 on your tax return via the Recovery Rebate Credit.

The rules will likely be the same for the new $600 stimulus amount included in the December 2020 COVID relief and government funding bill as well.

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