It will be the last payment of 2021 for families with minor children and could come with a significant increase.
With the arrival of December, some of the economic support to Americans affected by the pandemic will be halted until new relief plans are announced in 2022 or taxes are filed in the following year.
One of the payments that will be given for the last time this 2021 will be the Child Tax Credit, which has been distributed monthly since July 2021 to help families with minor children most affected by the crisis unleashed by the covid pandemic in the United States.
The Internal Revenue Service (IRS) recently sent notices to low-income Americans about the payments they will receive this month.
The notices were intended to encourage taxpayers to sign up on the IRS website to receive the Child Tax Credit but with an extra payment.
Who is eligible for the $1800 Child Tax Credit payment?
This assistance would be for parents who registered on the portal before November 15, who will receive up to $18,000 per dependent they have, which will be half of the total Tax Credit support.
The credit provides $3600 for children under the age of six and up to $3000 for children between the ages of six and 18. This 2021 only half of the support will be obtained.Those who claimed monthly payments received $300 and $250 respectively, but if they were not enrolled, were not required to file or simply chose to receive the support later, they can get the full 2021 payment.
When will the Child Tax Credit payments arrive?
Payments will be sent by direct deposit on December 15 to individuals who registered on the portal when the IRS sent the notice; mailed payments will arrive in the hands of beneficiaries by the end of December.
How much money will be distributed?
The check will be sent with a value of up to $1800 per dependent who is five years old or younger or up to $1500 for each child between the ages of six and 17.
Also, up to $3,600 will be sent for each child under the age of six and up to $3,000 for each child between the ages of six and 17 if they did not receive previous payments issued since July.
Families eligible for these payments, as well as the extra amounts, should have filed their taxes in 2021 and should have made the filing recommended by the IRS when it sent the notification letters.
Will there be Child Tax Credit payments in 2022?
There are no clear plans yet on the future of these support programs. The U.S. Congress is still debating whether to issue more support packages by the spring of 2022.
For now, it is known that House Democrats approved the $1.75 billion Build Back Better program to extend tax credits for 2022. However, the Senate still needs to take up the bill.