Since the coronavirus (COVID-19) pandemic was declared a national emergency by President Donald Trump
in mid-March, life as we know it has changed. “Non-essential”
businesses were ordered to close their doors. Schools shut down, and people
started wearing face masks in public.
The economic impact of the pandemic has been devastating to Americans and
people all over the world. So, to help provide the American economy with
a boost, lawmakers and politicians started issuing economic stimulus payments
to Americans and Green Card holders with a valid Social Security number.
As the government started rolling out automatic deposits and paper checks
to taxpayers, the questions starting coming into our office. Our clients
started asking questions about the payments and how they were impacted
by their children. If you have questions too, read on to get them answered!
1. How much are the checks? For qualifying individuals, the stimulus payments are $1,200 and $2,400
for married couples.
Do I get a check for my kids? Parents will receive a $500 check for each child age 16 and younger. That
is ONE check per household. If the parents are divorced, only the parent
who claims the child as a dependent will receive the $500 check.
3. Is there a limit as to how many children I can receive checks for? No, there is no limit on the number of children. You can have five, six,
or even more children age 16 and younger and still receive a $500 check
for each child.
4. Will I get a check for my college student since I claim them as a dependent? Not if your college student is age 16 or older.
5. My child is a high school senior; will I get a $500 check? If your child is 16 or older, you will not get a check for them, even if
they are a minor and still living at home.
6. Will my college student receive their own check? If you claim your college student as a dependent, he or she will not receive
a stimulus check. However, if you do not claim them as a dependent and
they are self-supporting, they should receive their own stimulus check.
7. Will I get my check if I owe child support? If you owe back
child support, your stimulus check may be reduced or eliminated entirely. If your spouse
owes child support and you filed your taxes jointly, your check may go
to your spouse’s child support unless you filed an innocent spouse claim.