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The stimulus bill has not yet been signed into law. It is uncertain what the final bill will contain.
You have until July 15, 2020 to file your 2019 return without an extension. If you child does not have a SSN or ITIN, you cannot include the dependent on your return.
Social Security Numbers for Children
this might help....and i will admit it is a little hazy on how this will work.
I've read there should be a 'settle up' process that will be part of next year's tax return. The way it appears to work is if you were due more from the CARES act in the form of the rebate check, you will get it as part of your 2020 tax return. If you were given too much, you won't be asked to return it. Again, that may not be totally accurate.
Certainly do not file your 2019 tax return without the child's social security number because you will lose any credit under the normal tax laws and there is no ability to go back and amend later. And then you certainly won't be eligible for the rebate check whether or not there is a settle up process.
What isn't clear is how they will handle situations where the 2019 tax return hasn't been filed, but a child was born into the household in 2019. It might be that 'settle up' process that covers this sort of situation.
stay tuned!
I've come across more information on how these stimulus rebates will work. The link below is the best analysis I have come across and should help a number of those on this thread understand 'who claimed who' and how this appears it will settle out:
https://www.cbh.com/guide/alerts/cares-act-what-you-need-to-know/
(scroll down to "Recovery Rebates")
Basically, the stimulus payments are an advance against 2020 tax returns.
When we complete 2020 tax returns, we will each re-calculate the stimulus payments based on 2020 tax returns (income, qualifying children, etc).
Whatever that re-calculated number is LESS what you already received will be an additional credit on your tax return, which would increase your refund or reduce how much you owe. Let's say you didn't claim a child in 2019 but did in 2020 as an example that could create the credit
And here is the kicker, if that recalculated number is negative (meaning your stimulus payment was higher than you were really entitled to based on your 2020 tax return), YOU WILL NOT owe that money back. Let's say you claimed a child in 2019 who was 16 but in 2020 they were 17 as an example on how the recalculated number could be negative, (a 16 year old is a qualifying child for the $500 but the 17 year old is not eligible)
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