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We’re still getting lots of questions on economic impact payments

Here is a recent one:

I claimed my 21-year-old son as a dependent on my 2019 Form 1040, but I won’t be elegible to claim him on my 2020 return.  He plans to file his own return for 2020, and his income will be below the threshold for getting the $1,200 stimulus payment.  Will he get the rebate?  

Yes, but not this year.  He can instead claim the amount as a refundable credit on his 2020 Form 1040.

 

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