FOR ANYONE whose parents have been asking for a grandchild, you can now get a $1,400 stimulus check for anyone who gives birth in 2021.
The $1.9 trillion stimulus package, dubbed the American Rescue Plan Act, allots $1,400 per eligible adult and each eligible dependent – including any child born in 2021.
Anyone who has a child this year can claim them as a dependent and can receive a $1,400 stimulus check[/caption]
It’s March, which means it’s plausible a child can be born by December.
The IRS began paying out its $1,400 stimulus checks via direct deposit over the weekend and will soon send out paper checks and debit cards in the mail next week.
While the $1,400 checks might not be enough to cover all costs, it’s combined with any dependents you claim, meaning if you’re a new parent or expecting soon, you can claim another $1,400 for any baby born in 2021.
All dependents are eligible to receive the checks, meaning parents with babies born this year will need to inform the IRS of their new family member in order to claim the extra $1,400.
There is no limit on the number of dependents one can claim for the stimulus check[/caption]
Likely, this means new parents would have to wait until filing their 2021 tax returns to claim the extra $1,400 and report new dependents to the IRS.
Most read in News
There is also no limit on the number of dependent children that are eligible for the $1,400, meaning if parents have twins, they would receive an extra $2,800, and so on.
In order to receive the funds, parents must be eligible to receive the stimulus funds under the American Rescue Plan Act.
Those making up to $75,000 a year are eligible for the full $1,400, with the stimulus check diminishing with any incomes larger than that.