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Tag: Dependent

Who is a dependent, and why that could mean more money in your next stimulus check

October 11, 2020
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If you claimed dependents on your 2019 tax return, you should’ve received at least $500 in the first round of stimulus checks.


Sarah Tew/CNET

If you claim a dependent on your taxes, you might receive more money in a second stimulus check than you did in the first, if a bill is approved in Congress. There are now three different proposals for a new stimulus bill that all expand the definition of a dependent in a way that’s sure to bring your family a larger sum, so long as you’re eligible for a new check (when and if it happens).

According to the latest proposal under consideration, a $1.8 trillion White House effort, the total for child dependents could rise from $500 to as high as $1,000 in a second round. Two other proposals wanted to bring $500 to dependents of any age, including an older relative

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Laid Off With Money Left In A Dependent Care FSA? Here’s Help

October 9, 2020
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Check out your employer's rules carefully before you stash money in a dependent care FSA.

Check out your employer’s rules carefully before you stash money in a dependent care FSA.

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If you were one of the millions of workers laid off in the coronavirus pandemic and you stashed money in a workplace dependent care flexible spending account (FSA) for 2020, you might not have to lose the money you contributed but didn’t spend down yet for child care expenses.

“We’re hearing a lot of employee outcry,” says Judith Wethall, an employee benefits lawyer with McDermott Will & Emery in Chicago. 

But here’s a secret: A pre-Covid 19 law might mean you don’t have to forfeit the money you stashed away in your dependent care FSA at work if you’ve been laid off. It’s called the “termination spend down provision.” Here’s how to ask your employer about it.

First, a refresher on the basic rules. If your employer offers a dependent care FSA, once a

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