Tax guide

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

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For the first economic impact payment (EIP1) provided by the CARES Act, children born in 2020 would not have added an additional $500 to your stimulus payment. However, when you file your 2020 taxes in 2021, you will be able to claim that $500 on your tax return via the Recovery Rebate Credit.

The rules will likely be the same for the second economic impact payment (EIP2), which includes a $600 stimulus amount for qualifying children.

EIP3 includes $1,400 for each dependent, regardless of age, but any missing amounts cannot be claimed until you file your 2021 taxes in 2022.

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