$8,000 checks will arrive after Christmas: Will you be one of the lucky ones?

It is confirmed that checks for $8,000 dollars will go to some families in USA after Christmas. This new payment is part of the Child Tax...

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  • It is confirmed that checks for $8,000 dollars will go to some families in USA after Christmas.
  • This new payment is part of the Child Tax Credit, but it has nothing to do with the advanced checks that will be delivered in December.
  • It applies to children under 13 years of age and to spouses or parents who have disabilities or who cannot take care of themselves.

It has been confirmed that checks for $8,000 dollars will go to some families in the USA after Christmas. But who are the lucky ones to receive it? This new payment is part of the Child Tax Credit, but it has nothing to do with the advanced checks that will end in December.

According to the American Rescue Plan, the federal government will also provide $8,000 dollars to families for the care of dependents. This includes children under 13 years of age and spouses or parents with disabilities or who cannot take care of themselves.

$8,000 checks will arrive after Christmas, will you receive one?

$ 8,000 checks will arrive after Christmas, are you among the lucky ones?
Photo: Shutterstock

The objective of this federal government program is to provide financial support to working families so that they can pay the expenses of caring for dependents while they are at work. So, for example, aid includes payments for transportation, housekeepers, babysitters, day care centers, caregivers, camps, or before- and after-school programs.

The good news is that in early 2022, families in the United States will not only be able to receive a check of up to $8,000 dollars. That amount could be increased up to $16,000 in the event that they are responsible for more than one dependent.

Checks will arrive after Christmas for some lucky recipients

$ 8,000 checks will arrive after Christmas, are you among the lucky ones?
Photo: Shutterstock

This will be a huge help, although it won’t arrive until after Christmas. To receive the funds, families will first have to claim them on their tax returns. Unlike the monthly advance checks that the Internal Revenue Service (IRS) began to distribute automatically, parents must request the money from this program on their 2022 tax returns.

Previously, families could only claim up to $6,000 for two or more children, but this year the US Senate introduced some changes to the Child Tax Credit as part of the American Rescue Plan that they approved last March.

Who qualifies for this check?

$ 8,000 checks will arrive after Christmas, are you among the lucky ones?
Photo: Shutterstock

In addition to the monthly advance checks of up to $300, the Child Tax Credit also provides each family that earns less than $125,000 with the equivalent of 50% of expenses incurred for the care of a dependent.

Of course, these would be the maximum aid amounts that would be awarded to eligible families earning less than $125,000 annually. However, if a family earns between $125,000 and $183,000 annually, they could still qualify, although they would only receive the equivalent of 20% of expenses, explained iHeart. These changes will surprise many in the United States, as they will receive more money than expected.

What do these care expenses cover?

$ 8,000 checks will arrive after Christmas, are you among the lucky ones?
Photo: Shutterstock

According to IRS, this help is “a credit allowed for a percentage of work-related expenses incurred by a taxpayer for the care of qualified persons to allow him to work or look for work,” but what does this include?

The qualified expenses for the care of a dependent include, for example, the cost of transportation, babysitters, housewives, before- or after-school programs, day care centers, and even day camps, among other expenses, according to The Sun.

How do I claim my $8,000 dollars?

$ 8,000 checks will arrive after Christmas, are you among the lucky ones?
Photo: Shutterstock

The IRS said that beneficiaries do not have to take any action to receive the monthly checks for the Child Tax Credit. However, to receive help for the care of a dependent, families must complete Form 2441. They have to declare their income and give information on the expenses they incurred for the care of their dependents.

In addition to dependent care funds, the IRS continues to send monthly advance checks to millions of families and plans to continue to do so on the 15th of each month until December. The December 15th check will be the last of these to go out.

Up to what age do children qualify for the Child Tax Credit?

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Child Tax Credit payments are available to families with children up to 24 years! Although the advance monthly checks are only provided for young people up to 17 years old, there is also a smaller amount for the older ones, The Sun reported.

Congressman Steve Cohen explained that, “Age is determined on December 31, 2021. If your child turns 18 this year, then he is not eligible for the monthly Child Tax Credit. However, the American Rescue Plan provided a one-time $500 credit for dependent children age 18 and for dependent full-time college students ages 19–24.”

Do I qualify for the Child Tax Credit?

Photo: Twitter

According to the IRS, couples earning less than $150,000 annually or single parents earning less than $112,500 annually qualify for maximum aid. Parents of dependent youth ages 17–24 also qualify for $500.

According to the American Rescue Plan, eligible families this year will receive up to $1,800 for each child under age 6 and up to $1,500 for each child between ages 6 and 17. The monthly advance payments that arrive between July and December will be up to $300 for children under 6 and up to $250 for children between 6 and 17.

How does the Child Tax Credit work?

Photo: Shutterstock

According to legislation passed in March, families will receive up to $3,600 for each child under 6 and up to $3,000 for each child between 6 and 17. The first half of that money will come through the six monthly advance payments from July to December. Parents will have to claim the remaining $1,800 next year when they file their 2021 tax return.

To determine your eligibility, the IRS is using the information you provided on your 2020 or 2019 taxes. If you are still unsure whether or not you qualify to receive these checks, the IRS recommends using the Eligibility Assistant for advance payments of the Child Tax Credit. They will ask you for some personal information to confirm if you are eligible or not.

Refuse help or make modifications safely

Photo: Shutterstock

Some families prefer to decline assistance or change their payment method from physical checks to direct deposits. It is already too late for the October payment. For the December 15 payment, you can make modifications until Monday, November 29.

To safely make these changes, the IRS recommends visiting the Child Tax Credit Prepayments in 2021 where people can get more details that allow them to seamlessly make changes to the Child Tax Credit Update Portal. 

The post $8,000 checks will arrive after Christmas; are you among the lucky ones? appeared first on MundoHispanico.