first, I assume the child is under the age of 17 and is a US citizen (or resident alien) with a social security number.
and I assume you filed your tax return in 2019.
if so, then it is best to amend that return, because you could be eligible for additional tax credits beyond the stimulus.
there is no guidance from the IRS at this point how to adjust the stimulus payment if you believe there has been an error.
However, it would be possible on next year's tax return to obtain the $500 as a 'worst case scenario'. here is why:
- 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 where you simply weren't provided $500 for a child that would qualify), you will receive it through the 2020 tax filing.
- If you received too much stimulus (not the issue here), by law , you are not required to return it
