I sympathize with your situation.
The IRS reviewed both 2018 and 2019 tax return data to determine the dollar amount of the first round of stimulus checks.
It has long been expected that taxpayers who claim dependents in alternating years will be significantly affected by:
- the calculation of the stimulus checks, and
- the reconciliation of the stimulus checks on the 2020 Federal income tax return.
This article addresses your question.
"In one scenario, the qualifying custodial parent — designated as such for tax purposes — releases a dependency tax claim to the noncustodial parent. In such cases, whichever parent claimed a child on his or her 2019 return might have received the $500.
In its guidance document, the IRS said: “When the parent who did not receive an additional payment files their 2020 tax return next year, they may be able to claim up to an additional $500 per-child amount on that return if they qualify to claim the child as their qualifying child for 2020.”
At this point, we believe the IRS understands that there are taxpayers who are in your situation and will allow for it.
However, in the last year, so many of these issues have changed once, twice or more times. It would not surprise me if the IRS gives a tax return such as yours additional review and is delayed in processing.
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