@macuser_22
@JLP91
I think the response was misinterpreted...
the question was will the child be no older than 16 by the end of 2020 and the answer was 'yes' which I take to mean the child will be UNDER 17 at the end of 2020
here is the worst case scenario to obtain the extra $500:
- the letter you receive from the IRS may explain what to do if the amount you receive in is correct
but if it doesn't, here is the other option:
- The stimulus payments are really based on your 2020 tax return (income, dependents, etc).
- The IRS is using either 2018 or 2019 – whatever is available - to ESTIMATE that payment
- When you file next year there will be a “settle up” section on the tax return.
- If you are due more stimulus (and this would include a child that was missed or born in 2019 or 2020) , you will receive it through the 2020 tax filing as an additional refund (or an reduction in what you owe)
- . If you were to receive too much stimulus, by law, you are not required to return
so all is not lost, there are paths to rectify the situation assuming the child was born in 2004 or later.
