By Joyce Kryszak
Buffalo, NY – Thanks to the promise of hundreds of dollars in stimulus payments, this year many people are actually looking forward to filing their taxes. But, because of a few loopholes, some might be surprised to find out they are not getting the bonus they had hoped.
Say for instance your dad is retired and receives social security income of at least $3,000 a year. He is probably pretty excited about the deal lawmakers hammered out that added him to the list of folks who will get a $300 stimulus payment. But, wait. If dad lives with you, his adult child, and you claim him - sorry. No check. Kevin McKeon is the Western New York spokesperson for the Internal Revenue Service. McKeon said that is how the law was written.
Well, Dad might be thinking, that's o.k. At least the $300 dollars will come through as a bonus on the stimulus payment to my adult child who is providing him with a home and support. Nope. The IRS says only dependents under age seventeen count toward the extra rebates. So, that brings up the next question. When do people lose out on the rebate benefits for child dependents? Does "under age seventeen" mean under age seventeen now? Part, or most of last year?
McKeon refered to the IRS's web site to get us the answer. But, it is not going to make some people happy.
The dependent child must have been under seventeen for all of last year.
Still, according to the IRS roughly 130 million households will get a stimulus payment of some amount, ranging between $300 and $1,200 or more.
Erie County Legislator Kathy Konst wants to make sure anyone who does qualify, doesn't miss out.
Konst is reminding senior citizens and others about another loophole. To receive the stimulus payment, they will need to file a tax return, even if they don't normally.
Konst said people can call her office to find out where to get free help with their returns. More information and free help for qualifying seniors is also available on the irs.gov web site.
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