Eligible parents with babies born in 2020 could qualify for $1,100 of extra stimulus cash

(WRIC) — Eligible parents who had a baby in 2020 can qualify for up to $1,100 of extra stimulus cash, according to MSN report.

Children born before Dec. 31, 2020, will qualify for both stimulus payments if their parents meet income limits: $500 from the first check and $600 from the second round.

The child credits are subject to the same phaseouts based on income limits as payments for adults.

• $75,000 if you’re a single filer.
• $112,500 if you’re head of household.
• $150,000 if you’re married and file a joint return.

To get the extra stimulus money for your baby, you will need to file a tax return and get the money the IRS owes you as a refund recovery credit.

The refund recovery credit is made possible by the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Any eligible person who did not receive their stimulus checks can claim the Recovery Rebate Credit on a 2020 Form 1040 or Form 1040-SR.

Click here to learn more about the recovery rebate credit.

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