IRS Stimulus payment withheld for dependency ?
January 6, 2009 by Tax Blog
Filed under Questions & Answers
VPcirc asked:
My son did not get a stimulus payment because he was claimed as a dependent for 2007 while in college. In 2008, he will not be claimed as a dependent, as school is over. Since this is a 2008 credit, and not 2007, will the IRS credit him once he files as a none dependent in 2008 on his 2009 1040a?
My son did not get a stimulus payment because he was claimed as a dependent for 2007 while in college. In 2008, he will not be claimed as a dependent, as school is over. Since this is a 2008 credit, and not 2007, will the IRS credit him once he files as a none dependent in 2008 on his 2009 1040a?
B on Tue, 6th Jan 2009 11:10 pm
No it’s based on the the filing status of the 2007 tax year.
bostonianinmo on Sat, 10th Jan 2009 9:39 am
The payments made during 2008 are based upon the 2007 return as filed. However, anyone who got less than the full $600 rebate ($1,200 for a couple filing jointly) will have a second chance to claim a refundable credit on their 2008 tax return, using your actual 2008 tax liability, income, and filing status, etc. He should be eligible for it if he has enough tax liability or income and can not be claimed as a dependent for 2008.
Judy on Sun, 11th Jan 2009 12:16 am
If he isn’t a dependent for 2008, and has federal income tax liability for 2008, he will receive credit on his 2008 return for a stimulus payment