The IRS has drawn out a payment schedule for the recipients of the stimulus payments of 2007. By submitting the last two digits of your SSN in the IRS site, you can actually find out the probable date of receiving the check. They have further segregated the recipients depending upon the mode of payment they have opted for.
Hence, you may have to wait little longer to receive the payment if you have opted to get it delivered at your doorstep, because they'll disburse the direct payments first. Meanwhile, if you have applied for the rebate under the 'child tax credit' you can browse through the rest of the content to make sure that you're receiving it this time.
Why am I not getting the stimulus payment for my child?
The IRS has announced a stimulus payment of $300 for the patents with financially dependent children. This is forwarded to defray some of the costs incurred in raising the child.
However, merely including your child, as the financial dependent, in your tax file doesn't ensure that you'll receive the stimulus payment for him/her. The child is required to fulfill certain requirements, mentioned in the child tax credit, in order to let his/her parent receive the payments. The 'qualifying child' is described as follows under the child tax credit section of IRS,
- The definition of qualifying child includes your own son or daughter, stepchild, foster child and the children of your direct blood relatives, like- niece, nephew and grandchildren.
- The child needs to have a valid SSN and should be an US citizen. As adoption is a legal process, the adopted child automatically qualifies for the benefits if he/she has spent more than six months with you during 2007 as a household member.
- The IRS law clearly states that a child of 17 years or older can't be regarded as the financial dependent under your tax file.
- Also to qualify for the credit, the child has to spend more than six months of 2007 in your household as a member. However, there is an exception regarding a child's birth or death. In both cases, however, the IRS will assume that the child has spent the whole year with you.
- The IRS also suggests that the child's earning needs to be less than half of his/her expenses in order to satisfy the criterion of financial dependency.
For single parents
There is a special set of criteria that a single parent needs to satisfy in order to receive the tax credit for his/her 'qualifying child'.
Being a single parent, if you file your tax return as the head of the household, you can receive the tax rebate between $300 and $600 for each qualifying child. But you're required to supply the necessary information in the tax form no. 1040A.
The income of the parent remains another important criterion to ascertain the amount of the rebate.