1484223
You'll need to sign in or create an account to connect with an expert.
The $500 per dependent only applies to dependents who were under the age of 17 as of December 31st.
If you had a dependent who was 17 on December 31st, they would not be eligible for the $500 dependent credit.
What does the stimulus package mean for you?
All of my dependents are under the age of 16.
It sounds like the IRS processed your stimulus, but not the payments for your dependents. As you can imagine, this is a massive undertaking, and there are bound to be some snags on the part of the IRS. If the IRS does not process these payments in 2020, then you can still receive them in 2021 when you file your 2020 return. The stimulus is actually an ADVANCE on a credit on your 2020 return.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
rgrahovec55
New Member
Stitha2
New Member
bs87840709
New Member
jaxsonsmommyy1624
New Member
lmh06420
New Member