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Stimulus Payments

Level 3

Does anyone know the answer to this question? I have several tax payers who were dependents las year and now are filing their taxes independent from their parents. Do they qualify to get the stimulus payments with their income tax?

Thank you 

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10 Replies 10
Level 10
Level 10

Yes as long as they don't qualify to be claimed as a dependent of their parents. 

Level 15

But you really need to do your homework first and find out if they really provided over half of their own support.  Believe it or not, there are folks out there who would game the system and say their kids are not dependents just to get some extra cash from Uncle Sam.

This week's special - free roadrunner dinner with every return (legal disclaimer - you catch it and we'll cook it)
Level 15

I thought Groundhog Day was last week.


ex-AllStar
Level 15

It's just like the movie ----------------------------- it keeps repeating, and repeating, and repeating!

This week's special - free roadrunner dinner with every return (legal disclaimer - you catch it and we'll cook it)
Level 3

Thank you for your answer IRonman.

Level 15

You betcha!

This week's special - free roadrunner dinner with every return (legal disclaimer - you catch it and we'll cook it)
Level 3

Where do we draw the line on a situation like this...? How is everybody handling this? I initially thought about including some kind of wording on a disclosure statement they have to sign but is that too much... not sure if I'm overthinking this. 🤔

Level 15

I am going to be using my best interrogation techniques.  I am going to ask about support and let them tell their story.  If I don't buy their story, they either do the return my way or go elsewhere.  Luckily I have pretty good clients so I don't think it will be a major issue for me.

This week's special - free roadrunner dinner with every return (legal disclaimer - you catch it and we'll cook it)
Level 10
Level 10

I've only had 2 clients ask and once I brought up support they are claiming their dependent on their return..

Level 15

You might want to bookmark these links and read the IRS guidance.

Interactive wizards portal for determining dependency:

https://www.irs.gov/help/ita

And:

https://www.irs.gov/newsroom/economic-impact-payment-information-center-topic-a-eip-eligibility

https://www.irs.gov/coronavirus/second-eip-faqs#Eligibility

One for each EIP.

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