IRS Announces $1,500 Child Stimulus – Find Out How You Can Claim Yours!

In a new announcement, the IRS has confirmed that eligible families will receive a $1,500 child stimulus payment starting in February 2025. This payment aims to support parents and guardians of qualifying children, providing much-needed financial relief during challenging times. Here’s everything you need to know about how to claim the payment and when you can expect to receive it.

Who is Eligible for the $1,500 Child Stimulus?

To qualify for the $1,500 child stimulus, there are a few key eligibility criteria that parents need to meet:

• Age of the Child: The child must be under 17 years old at the end of 2024.

• Relationship to the Child: The child must be your biological, adopted, foster child, sibling, or a descendant of one of these (e.g., grandchild or niece).

• Support Provided: The child must not have provided more than half of their own financial support during the year.

• Tax Filing Status: The child must be listed as a dependent on your tax return.

• Citizenship: The child must be a U.S. citizen, U.S. national, or U.S. resident alien.

• Residency: The child must have lived with you for more than half of the tax year.

Additionally, the payment is subject to income limits. If your Modified Adjusted Gross Income (MAGI) exceeds the following amounts, the payment will begin to phase out:

• $200,000 for single filers

• $400,000 for married couples filing jointly

How to Claim the $1,500 Child Stimulus

To receive the $1,500 payment, eligible families need to file their 2024 tax return. The payment will be issued automatically once the IRS processes your tax return and confirms your eligibility. Make sure to claim your child as a dependent on your tax return to avoid missing out on the payment.

When Will Payments Arrive?

If you are eligible, the IRS will begin sending out the $1,500 child stimulus payments starting in February 2025. The payments will be issued via direct deposit, or by check if the IRS does not have your direct deposit information. It’s important to ensure that your tax filings are up-to-date and accurate to avoid any delays in receiving your payment.

Don’t Miss Out!

The $1,500 child stimulus is a great opportunity for families to get some extra financial help in 2025. Be sure to file your taxes on time, double-check your eligibility, and claim your child as a dependent to ensure you receive the payment. Stay tuned for further updates from the IRS as the payment distribution begins.