Stimulus payment errors

[Art]

Client was shorted 1 dependent on payment. 2008 return clearly showed both children, but one was not eligilble for child tax credit. Is the IRS keying on the number of dependent children or only those eligible for child tax credit? This is first stimulus payment any of my clients have call about. Anyone else have this problem?

[JohnH]

IRS is correct. The additional $300 stimulus payment per child is based on the number of children under 17, just like the additional child tax credit. Here's the link - scroll down to "Extra money for qualifying child"

http://www.irs.ustreas.gov/newsroom/article/0,,id=179181,00.html

[Art]

Thanks for the quick response.
Follow-up. If there was an error on the original return and a dependent should have qualified for child tax credit, would an amended return trigger a correction of the stimulus refund? or is there a better way to get the adjustment?

[Bees Knees]

You get the difference as a refundable credit on the 2008 return. The credit is explained in TTB update covering the new law:

http://www.thetaxbook.com/updates/2007/2-23-2008_Update/wns-18-23.pdf

[Jesse]

Thanks for the quick response.
Follow-up. If there was an error on the original return and a dependent should have qualified for child tax credit, would an amended return trigger a correction of the stimulus refund? or is there a better way to get the adjustment?

But if there was an error on the original return you'll want to amend the return to receive the child tax credit.

[Art]

Yes, Thank you. We have alread done that.