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Monthly check mailing dates for $250 and $350 checks under “Child Tax Credit”

Monthly check mailing dates for $250 and $350 checks under Child Tax Credit
[sin_anuncios_b30] The first payment under the credit extension that provides up to $3,600 per child will be sent July 15; the agency sent letters to more than 36 million U.S. families who would be eligible for the advance payments.

The Internal Revenue Service (IRS) confirmed Monday that it will begin distributing monthly “Child Tax Credit” (CTC) extension checks under the Biden Administration’s “American Recovery Plan” on July 15.

To that end, the agency sent letters to more than 36 million U.S. families who, based on tax returns filed, may be eligible for advance payments of between $250 and $350 per child per month.

This year, the government is awarding up to a maximum of $3,600 per child.

More than 36 million letters to CTC-eligible families

“The letters are targeted to families who may be eligible based on information they included on their 2019 or 2020 federal tax return or who used the Non-Filers tool on last year to sign up for an Economic Impact Payment,” an IRS statement said.

The increased CTC payments will be made on the 15th of each month, unless the 15th is a weekend or holiday.

Six monthly payments through December

Thus, after the first payment on July 15, the due dates will be: August 13, September 15, October 15, November 15 and December 15.

The entity also announced that eligible families will receive a second one with an estimate of the payment they will receive. The IRS did not specify when the notice will be sent.

IRS bases credit calculation on 2019 or 2020 tax return information.

Most families will automatically receive payments without needing to take additional action. “Normally, the IRS will calculate the payment amount based on the 2020 tax return. If that return is not available, either because it has not yet been filed or has not yet been processed, the IRS will determine the payment amount with the 2019 return,” the office added in the press release entry.

The IRS urged families and individuals who have not yet filed their 2020 or 2019 returns to do so as soon as possible so they can receive the payments they are due under the credit extension.

“This includes people who do not normally file a tax return, such as homeless families, the rural poor and other underserved groups,” the agency said.

The office also urged people to learn about the scope of these payments through

Two portals will be available soon

The IRS will soon open two other portals for potential CTC beneficiaries to check their eligibility and update information on dependents.

The former will help families determine if they qualify for payments.

While, through the Child Tax Credit Update Portal, eligible individuals can cancel payments in advance to receive a single lump sum payment next year instead.

Additionally, the site will allow individuals to check the status of their payments.

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