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adp10001
Level 1

Stimulus And Tax Credit?

Hello,

Will children born in 2021 after the last stimulus, will they receive that payment in addition to the child care credit of $3600?

1 Best answer

Accepted Solutions
conniem123
Employee Tax Expert

Stimulus And Tax Credit?

Hi adp10001 , Congratulations on the new little one!

 

Yes, you will receive the Child Tax Credit if meet the eligibility requirements for qualifying child and income limits. 

https://blog.turbotax.intuit.com/tax-deductions-and-credits-2/what-is-the-2021-child-tax-credit-unde...

 

In late summer you may also update the IRS records to add the new dependent and begin receiving the monthly advance payments of the 2021 Child Tax Credit.

 

https://www.irs.gov/credits-deductions/child-tax-credit-update-portal

 

Since you did not receive the third stimulus payment for your newborn, you will be able to claim a 2021 Recovery Rebate Credit on your 2021 tax return filed next year.

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2 Replies
JaredS_CPA
Employee Tax & Finance Expert

Stimulus And Tax Credit?

Hello @adp10001

Yes, children born in 2021 are eligible for the third stimulus payment paid out in 2021, but you will have to wait until you file your 2021 return in 2022 to claim it.

 

Having said that, you can visit the IRS website for the Advanced Child Tax Credit to update your dependent information to include your newborn in those calculations.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
conniem123
Employee Tax Expert

Stimulus And Tax Credit?

Hi adp10001 , Congratulations on the new little one!

 

Yes, you will receive the Child Tax Credit if meet the eligibility requirements for qualifying child and income limits. 

https://blog.turbotax.intuit.com/tax-deductions-and-credits-2/what-is-the-2021-child-tax-credit-unde...

 

In late summer you may also update the IRS records to add the new dependent and begin receiving the monthly advance payments of the 2021 Child Tax Credit.

 

https://www.irs.gov/credits-deductions/child-tax-credit-update-portal

 

Since you did not receive the third stimulus payment for your newborn, you will be able to claim a 2021 Recovery Rebate Credit on your 2021 tax return filed next year.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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