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According to the IRS, parents who are not married and alternate claiming of a child dependent, "The parent who claimed their child on their 2019 return may have received an additional Economic Impact Payment for their qualifying child. When the parent who did not receive an additional payment files their 2020 tax return next year, they may be able to claim up to an additional $500 per-child amount on that return if they qualify to claim the child as their qualifying child for 2020."
This only references the one stimulus payment but would apply to both.
This is referenced in the last paragraph under Claimed dependents are not eligible for an additional $500 payment in this article: Why the economic impact payment amount could be different than anticipated
This will all be done by claiming the Rebate Recovery Credit on your 2020 return.
No. Separated/divorced parents who alternate claiming their child should not both receive separate stimulus payments.
Some parents did receive two payments in error because the first stimulus payments were based on 2018 and 2019 tax returns. So if Parent A claimed their child on their 2019 return and Parent B had not filed a 2019 return at that point, but claimed the same child on the 2018 return, the IRS mistakenly sent payments to both parents.
The stimulus payments are “reconciled” on the 2020 tax return. So whomever claims the child as a dependent in 2020 will get the full stimulus they are entitled to.
If the other parent received a payment by mistake, he or she will not have to pay it back. For example, you received $500 for your child whom you claimed on your 2018 or 2019 tax return. You do not claim the child on your 2020 tax return because the child’s other parent claims the child. You will not be required to pay back the $500 even if the child’s other parent claims $500 for the same child on his or her 2020 tax return.
See Economic Impact Payment Information Center — Topic J: Reconciling on Your 2020 Tax Return.
Thank you so much for your response. So just to clarify that I am following correctly... I claimed in 2019 and had already claimed at the time of the first stimulus check there for the additional $500 went to me. I have no way of knowing (without other parent telling me and we don't speak) if the other parent received the $500 with the first round because I have no idea it they had filed their 2019 taxes yet. So since they claimed our child in 2018 they could have also received the $500 back in April of 2020?
I was told the the other parent can file something when they do their 2020 taxes claiming that I falsely received the stimulus payments both times (even though according to the rules that the IRS set, I received what I should have). Since sending both to me was what was set by the IRS guidelines could the other parent still file something when they do their 2020 taxes so that they can still get the additional $600 for the last payment, or $500 from the first?
Sorry just trying to be informed since the other parent is demanding I hand over $500 immediately. There is little to no trust toward the other parent so I am making sure I protect myself.
In this situation, both parents will collect when each files in different years like you are.
It is a loophole in the IRS processing.
Since you got the payment you can't get it on your tax return.
If you want the other parent to get the stimulus they didn't get yet, let him claim the dependents in 2020.
But that won't work if they are 17 in 2020.
I am in a very similar situation. We alternate years claiming the dependent. However, the dependent lives with me exclusively. Will the fact I have sole physical custody change how any upcoming stimulus are distributed?
According to the IRS, parents who are not married and alternate claiming of a child dependent, "The parent who claimed their child on their 2019 return may have received an additional Economic Impact Payment for their qualifying child. When the parent who did not receive an additional payment files their 2020 tax return next year, they may be able to claim up to an additional $500 per-child amount on that return if they qualify to claim the child as their qualifying child for 2020."
This only references the one stimulus payment but would apply to both.
This is referenced in the last paragraph under Claimed dependents are not eligible for an additional $500 payment in this article: Why the economic impact payment amount could be different than anticipated
This will all be done by claiming the Rebate Recovery Credit on your 2020 return.
Actually, yes, it is true. I have to disagree with Ernie. The IRS specifically states on their FAQ page (that Catina references) that this can happen, and it's okay.
The credit is given to the adult, not directly to the child, and that is how this works.
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