The IRS will continue to send payments for the “Child Tax Credit” until next December.
Photo: BRENDAN SMIALOWSKI / . / .
After the first monthly payment to millions of families in the United States this July 15 under the extension of the “Child Tax Credit” (CTC) of the Biden Administration, the Internal Revenue Service (IRS) will deliver five additional payments until December.
This is provided by the “American rescue plan” approved in the federal Congress under which the amount of the credit was increased and it was advanced 50% of the total payment in six monthly installments.
The dates of the next shipments are: August 13, September 15, October 15, November 15 and December 15.
IRS sent checks to about 35 million families in first batch
The first batch of monthly advance payments last week impacted about 35 million families across the country. The IRS disbursed about $ 15,000 million dollars under that concept.
“About 86 percent was sent by direct deposit,” the IRS said.
In most cases, the money will automatically go to the beneficiaries.
If families do not file low income taxes, the parent (s) must file a tax return to the IRS as soon as possible so that the agency can process the corresponding payments.
“Non-filing” families can also use the “Non-filer Sign-up” tool
Households also have the option of using the online “Non-filer Sign-up” tool.
The portal is similar to the one launched last year on IRS.gov for non-filers to claim the first stimulus check.
Through the new site, Americans will not only be able to enter your data and those of your dependents for monthly checks up to $ 300 retail under the CTC, they will also be able to claim the $ 1,400 stimulus check from the third round if they have not received it or the payments corresponding to the previous rounds.
“This tool, an update to the Non-Filers tool from last year’s IRS, is also designed to help eligible individuals who do not normally file tax returns enroll for the third round of economic impact payments of $ 1,400 (also known as stimulus checks) and claim the reimbursement for any amount of the first two rounds of economic impact payments that they have not received, ”explained the IRS in another of its press releases.
Up to $ 3,600 per household retail
This year, the most that an eligible minor household can get is $ 3,600 for children under the age of 6, and $ 3,000 for each child between the ages of 6 and 17. Before 2021, under the CTC, families could get a maximum of $ 2,000 per qualifying child, while 17-year-old dependents were not eligible.
Monthly payments will range from $ 250 to $ 300 per child.
The IRS will not only take into account the ages and number of minors per household, but also the income level of the parent or guardian to calculate the monthly amount to be paid.