Ask the I-Team: Do Maine families with kids get a stimulus bonus?
Many people are wondering how much money they'll be getting from the government to help them get through this coronavirus crisis.
A "concerned citizen" wrote to the I-Team this week asking:
“Is there extra money for minor children? We had a baby in July of 2019, so she has not yet been on our tax return. How would we get that money?
As long as parents meet the income restrictions, they'll receive $500 for each child under 17 years old.
You won’t get a payment if your annual adjusted gross income is more than $99,000.
Ask the I-Team: Will Social Security recipients get stimulus checks?
For new parents it will depend on timing and taxes.
The payments are based on your 2019 tax return, or if you haven't filed yet, your 2018 return.
So, if you had a baby in 2019 and filed your 2019 taxes, you should get the extra $500.
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The Tax Policy Center in Washington DC said if your baby was born in 2020, you'll probably have to wait until next year.
They say the stimulus payment will be recomputed when you file your 2020 tax return, and as long as you still meet the income restrictions, you should get a $500.
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The IRS urges those who haven't filed their 2019 taxes yet to do so.
They'll start sending payments to most Americans in the next few weeks.
The IRS says don’t call with questions about this, just keep checking the website for updates.
If you have a question for the I-Team, send it to tips@wgme.com or call (207) 228-7713.