How to Apply for an Incentive Test As a Dependent Adult
The American bailout plan was passed into law today, which means another round of relief checks is expected to be sent out next week. But there is a change in eligibility requirements for $ 1,400 “incentives” that is easy to overlook – unlike previous checks, dependents of any age can qualify, including college students, adults with disabilities, and seniors.
How can you qualify as a dependent adult?
According to Business Insider , adults who rely on another person for more than half of their expenses can be considered dependents. Previous checks were disabled at age 17, but students under 19 or under 24 for college full-time students can now qualify for the program. Dependent adults can also include disabled people and senior citizens, provided they have a qualifying relationship or live with you.
As with previous incentive checks, you must be below a certain income threshold to be eligible for preferential checks for you and your dependents. If you are applying for dependents, you will need an adjusted gross income of up to $ 75,000 to receive full checks of $ 1,400 (those filing a joint return with income under $ 150,000 will receive $ 2,800).
Payments will be stopped, decreasing $ 280 for every $ 1,000 of your Adjusted Gross Income that exceeds the set threshold. People who earn more than $ 80,000 a year (or married couples earning more than $ 160,000) will be cut off entirely from relief checks, no matter how many dependents they have.
Also note that the person applying on behalf of the dependents will be who the IRS actually pays to.
How to claim dependents
You can list your dependents on your Form 1040 in the middle of the first page. You will be required to provide their Social Security number, relationship with you, and if they are eligible for the Child Tax Credit as a dependent child. Use this calculator to find out how much relief you are entitled to.
If you have new qualified dependents and have already filed a tax return, you can try filing an amended return according to The New York Times . You can refrain from doing this, however, as the IRS has not issued official instructions yet (and will probably do so after the bill is signed). It may be applied as a rebate in the next tax year, as in the case of previous audits, but this has not yet been confirmed.