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Had a baby in 2020? You are still able to receive the $500 stimulus payment

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COLORADO SPRINGS, Colo. (KRDO) - Millions of Americans have received a stimulus check amid the coronavirus crisis.

Many families also received an additional $500 per child. Under the economic impact payment guidelines, children under the age of 17 are eligible for the payment.

So what if you had a baby in 2020 or are expecting a baby by the end of the year?

The good news is you are still able to receive the $500 payment. You must claim the $500 credit on your 2020 tax returns.

For those who have yet to receive a stimulus payment, Saturday marked the deadline to apply for the government payment.

You are still able to get some money. When you file a 2020 Form 1040 you may be eligible for the recovery rebate credit.

If you didn't receive the full stimulus payment amount, hold on to the economic payment form the IRS sent you in the mail because you will need to know the amount of the payment in the letter when you file your 2020 taxes.

Article Topic Follows: Your Money

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Hanna Knutson

Hanna is the traffic reporter for Good Morning Colorado. Learn more about Hanna here.

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