How to claim stimulus money in your tax returns for new dependents in 2020

How to claim stimulus money in your tax returns for new dependents in 2020
U.S. Treasury check (File) (Source: Hawaii News Now)

AUGUSTA COUNTY, Va. (WHSV) — If you had a baby or gained any new dependents under the age of 17 from January 1, 2020, to December 31, 2020, you may be eligible to get stimulus money you initially missed out on.

Overall, it’s about $1,100 you could get back, but local tax experts explained it would be broken up between two tax returns.

The $500 from the first round can be reconciled by filing your 2020 taxes, while the $600 from the most recent round would have to be filed in 2021 taxes.

You’ll need to have notice 1444 from the IRS when filing this season.

“There should be a question that asks, ‘what was reported on that form 1444?’ If there’s a difference, you’re going to reconcile so you can receive that credit on your 2020 return,” Sara Hubbell, Community Impact Coordinator at United Way of Staunton, Augusta, Waynesboro, said.

The United Way SAW offers a free tax service called Valley VITA, where people can get help filing their taxes if you make under $57,000 a year.

Hubbell encourages people to reconcile the money by filing their taxes, rather than reaching out to the IRS tool to claim their new dependents.

“Last year when they did that, it actually created a simple return, which made some problems for folks who should have waited to actually file because they had a filing requirement,” Hubbell said.

Hubbell said the fastest way to get your refund back is to make sure you have direct deposit set up.

Valley VITA is also looking for more volunteers to lend a hand this tax season. They need people to help with greeting, scheduling and preparing. If you’re interested, you can reach out to Hubbell at sara@unitedwaysaw.org

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