2020 Stimulus and children

[natandbob]

I have a daughter with my ex husband. Each year for tax purposes we switch the dependency credit back and forth, but i always get EIC for her bc she lives with me.  She doesn't visit him but twice a year. This was his year to claim for the dependency credit, but i still received the EIC. Because she lives with me FULL TIME, it only makes sense the stimulus for her would come to me, correct? 

[JotikaT2]

Unfortunately, we cannot answer that question at this time.

I can recommend you check the link to the IRS below for updates on how the stimulus checks will be processed.  As of today, there are no updates as to procedure of the distribution so please check back for updates.

IRS updates for Coronavirus

[NCperson]

nothing makes sense other than how the law was passed.  

They are looking at the 2019 tax return and if that is not available they are looking at the 2018 tax return

how old is your child?  if over 16, there is no rebate in any event. 

it's that simple. 

[samanthaann143]

I am in the same exact boat and wondering the same thing but no one seems to know the answer to this and it’s frustrating! I am forced by the court to let my ex husband claim our son when he doesn’t even see him but a couple times a year, but good for him he pays child support so that gets him a pass on claiming his son he does nothing for. I really hope that go by qualifying and not by who claimed as dependent. I even put my son lives with me 12 months out of the year. I hope that’s enough. 

[NCperson]

@samanthaann143 @natandbob - updates on how this is REALLY going to work,  Turns out the payments that will shortly be received are really advances against 2020 taxes.

What that means is when everyone files their 2020 taxes next year, you will calculate your stimulus credit based on 2020 numbers (meaning 2020 income and 2020 dependent claimed,etc ).   

Then the IRS will reduce that credit by the stimulus money you already received. 

If you are due more stimulus money than what you initially received, that will increase your refund / lower your taxes due for 2020. 

If you received too much stimulus money , YOU WILL NOT HAVE TO PAY IT BACK. 

https://www.cbh.com/guide/alerts/cares-act-what-you-need-to-know/

scroll down to "Recovery Rebates for Individuals"