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Deductions & credits
@macuser_22 wrote:
I know of no 4th 2021 stimulus. The 3 stimulus that were issued are for 2020. Any child must have been born before Dec 31, 2020 to qualify.
@macuser_22 this is incorrect. The Rescue Plan Act section 9601 specifies that there will be a rebate of $1400 per taxpayer and dependent claimed on the 2021 tax return. The Act also calls for advanced payments based on 2019 or 2020 information. So while a dependent born in 2021 does not qualify for an advance payment, they will qualify for a $1400 rebate on the 2021 tax return.
The enrolled text is here.
https://www.congress.gov/bill/117th-congress/house-bill/1319/text
Per usual, the IRS is making it confusing. Their documents all say that a stimulus payment won't be made for new dependents, but a rebate can be claimed on the 2021 tax return. However they are less than 100% clear that the rebate applies to new dependents.