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.