How to Get your Stimulus Check Money as a New Parent

As a new parent and with new rules on stimulus checks, you may be eligible for even more stimulus money. Maybe you weren’t able to access it at all during the first round or didn’t qualify due to the first round of ID restrictions. Don’t worry! You are able to collect any stimulus payments that you are owed by filing your taxes in 2021 for Tax Year 2020.

The good news is that you can do that for free by matching with free tax prep if your household made less than $72k — which most do! At Let’s Get Set, we’ve created an 8-step process for new parents to help guide you through tax season — from beginning to end — and to make it as easy as possible.

What is the difference between the first and second stimulus checks?

The stimulus checks were awarded by the government as part of Coronavirus relief and were awarded to families based on their income (as reported through their taxes) and their identification requirements (having a SSN). Most families qualify for checks. If you made less than $150K as a married family or less than $112k as a single parent you are eligible for the full payment amounts.

The first checks (issued in April 2020) were $1,200 checks with $500 for each qualifying child under age 17. So, if you were a single mom with one child, you could expect $1,200 for you and $500 for your child, for a total of $1,700.

The second checks (issued in December 2020) were $600 per person and per qualifying child, so you would receive $600 for you and $600 for your child, for a total of $1,200.

Notably, the rules for eligibility have been EXPANDED and if you are married to a spouse without a SSN you and your child may now be eligible for thousands of dollars of stimulus check money. See the next section for more information.

What if I have a SSN, but my spouse has an ITIN instead?

According to the NEW requirements, you and your child are now eligible to receive BOTH the first and second stimulus checks. To receive them, you must file your 2021 taxes for Tax Year 2020. (The original check disqualified you if your spouse has an Individual TaxPayer Identification Number (ITIN).) The new rules have made it possible for the spouse with the SSN and qualifying children with SSNs or ATINs to get the stimulus payments. This means that if you have a SSN and your child has one, you are now eligible for the following payments:

• $1,200 (for your first stimulus payment) + $500 for qualifying child
• $600 (for your first stimulus payment) + $600 for your qualifying child

That’s $2,700!

What if I was claimed as a dependent by someone in 2019, so wasn’t awarded a stimulus check?

The stimulus checks were awarded based on information from 2018 and 2019 taxes, so if you were a dependent (meaning a parent or guardian claimed you on their taxes), you were not eligible for these payments. However, if you will be filing on your own this year (filing your taxes in 2021 for the 2020 year), you could be eligible for the stimulus check money now that you are no longer a dependent.

What can I do if I didn’t receive my stimulus checks yet?

You should file taxes this year for the Tax Year 2020. There will be an opportunity for you to claim the Recovery Rebate Credit to get your money. Use our tools to match with free and reliable tax prep.

How can I get my stimulus checks and my tax refunds faster?

The IRS has been very clear that the fastest and most accurate way to receive these payments is to use direct deposit. If you are interested in finding a good account to open so you are ready for tax season, let us know at info@letsgetset.co. We are working on creating a list for you!

Can I track my stimulus checks?

Yes. You can track the status of your second stimulus check by using the IRS Get My Payment tool. This is great because you can see whether your first and second stimulus check has been sent and whether your payment type is direct deposit or mail.

The example below shows a mom who had her first stimulus payment processed correctly. It shows the bank account it was correctly deposited into.

However, the second stimulus payment says “Payment Status #2” — Not Available,” which means that she will not automatically receive a second stimulus check. Instead, she will have to claim the payment on her 2020 tax return as the Recovery Rebate Credit.

Have questions?

Please check out our FAQs or reach out to us at info@letsgetset.co if you have questions about navigating tax-time as a new parent or what it means for your stimulus checks. Remember, you can use our free tools to get matched with free tax prep and to get free support throughout tax season.