Client has asked about the third stimulus payments issued this year. The parents did not qualify due to their income. Are their two children denied the payments because their parents did not qualify?
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It depends on whether the two children are claimed as dependents on the parents' return.Uncle Sam, CPA, EA. ARA, NTPI Fellow -
"You said it, they'll never know the difference. Come on, we'll paint our way out!" - Moe Howard
"That's enough! When you didn't know what you were talking about, you really had something! [to Curly]" -Moe HowardComment
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The children are claimed as dependents so are they entitled to the stimulus payments even though their parents are not due to income exceeding the threshold?Comment
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"You said it, they'll never know the difference. Come on, we'll paint our way out!" - Moe Howard
"That's enough! When you didn't know what you were talking about, you really had something! [to Curly]" -Moe HowardComment
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