Question

Changes from 2018 to 2019...how does it effect my stimulus?

Forum|Forum|6 years ago
April 20, 2020
1 reply
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I already received my stimulus based on my 2018 taxes. However, my 2019 taxes I've filed last week included two new children. Does anyone know if I might also receive stimulus for the children now that I have filed with my 2019 taxes even though I already received the 2018 based stimulus check?

Not A Product Question

N

NCPERSON1

the CARES ACT was smart enough to think about new-borns.... there is no guidance how to make these corrections in the short-term, but there is a long term answer:

here is your 'worst case scenario' - you will get the money

The stimulus payments are really based on your 2020 tax return (income, dependents, etc).
The IRS is using either 2018 or 2019 – whatever is available - to ESTIMATE that payment
When you file next year there will be a “settle up” section on the tax return.
If you are due more stimulus (and this would include where you weren't compensated for qualifying children born in 2019 OR 2020), you will receive it through the 2020 tax filing as an additional refund (or to reduce any taxes you owe).
If you received too much stimulus (not the case here), by law, you are not required to return it

does that help?

https://www.businessinsider.com/personal-finance/will-we-have-to-pay-back-stimulus-check-2020-4