If you're currently a college student, be sure to understand which relief measures may or may not be coming your way
Stimulus Checks
Last week, the IRS started sending stimulus checks up to $1,200 to those who qualify. One constituency, however, likely won’t be receiving a stimulus check:. You may be wondering how this can be possible. Many college students have had their classes cancelled, their college dorms closed, and even their job offers postponed. So, why won’t most of them receive a stimulus check?
The answer: it has to do with whether the college student can be claimed as a dependent. Many taxpayers have asked: “Do my dependents get a stimulus check?” The amount of your stimulus check depends on your adjusted gross income, as indicated on your federal tax return, subject to income thresholds:Wait, your dependent has to be younger than 17-years-old? Yes. Only dependent children 16-years-old or younger are eligible to receive $500.
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