Jan 04, · Only dependent children under 17 years old are eligible for the additional $ stimulus payment to the taxpayer claiming them on their taxes. Like the first round of stimulus checks in March, Author: Kelly Anne Smith. Nov 28, · No, parents are not generally responsible for an adult child's medical debts, said Richard Gundling, senior vice president at the Healthcare Financial Management Association, an organization for Estimated Reading Time: 5 mins.
Your dependent doesn’t have to be your child to allow you to claim this credit. They can be your parent, sibling, or cousin—or not be related to you at all. They must meet all the other IRS qualifying rules for adult dependents, however. The credit is $ per dependent as of Estimated Reading Time: 7 mins. Nov 28, · Generally, parents would be responsible for their adult child’s debts only if they had signed an agreement with a medical provider to cover them. The situation would be different if it were a Estimated Reading Time: 5 mins.
Jan 25, · The Child Tax Credit says a dependent child is a child or a qualifying relative who is under 17 by the conclusion of the tax year (for the second stimulus check, this was the tax year). Dec 15, · One of the most startling statistics to come out of the MarketingVOX/Rand research centers on teens' total annual spending, which sits just shy of $ billion annually. Tip: Kids and Money. 7. Mom and Dad may be taking on debt to feed teen spending. If that figure is accurate, it means that teens are spending nearly triple what they earn.