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Qualifying Child in EIPs

How does the IRS define “qualifying child” in relation to Economic Impact Payments (EIPs)? Under the Coronavirus Aid, Relief and Economic Act, eligible taxpayers can receive an additional $500 per qualifying child. According to the IRS, a qualifying child is: your child, stepchild, eligible foster child, sibling, half sibling, step sibling, or descendant (such as your grandchild, niece or nephew). Also, you must claim the child as a dependent on your tax return; the child must be under age 17 at the end of 2019; must be a U.S. citizen, U.S. national, or U.S. resident alien; and have a valid Social Security number or taxpayer ID number. Here’s more. Contact Cg with questions.