- Biden’s promise of more aid checks came this week.
- The president of the United States promoted a payment of $ 600 dollars as a Child Tax Credit and also promised that the aid “will continue.”
- Biden insisted that “itwill continue,” referring to the Child Tax Credit, although he didn’t say how long they expect beneficiaries to receive this help.
Biden’s promise of more aid checks came this week when the president of the United States promoted a $ 600 payment as a Child Tax Credit and also promised that the aid “will continue.”
Last Friday, at a press conference, the president recalled that in a few days families will receive more cash. This check would be the second payment of the Child Tax Credit that was approved by the Senate last March. However, Biden stressed that there would be more.
Biden’s promise that suggests there will be more aid checks
The president commented that families with children under the age of seven would receive a check for $ 600, while those with children from seven to 17 would receive a payment of $ 500, in what is presumed to be a further expansion of the program , he reviewed The Sun.
Biden insisted that “that will continue,” referring to the Child Tax Credit, although he did not detail how long they expect beneficiaries to receive this help. For now, the monthly checks of up to $ 300 dollars that will be delivered from July to December remain.
Child Tax Credit
It is estimated that 39 million eligible households will receive this second check, which will reach the beneficiaries next Friday August 13. The first they already received, when the Internal Revenue Services (IRS) sent it on July 15.
According to the legislation, the beneficiaries of the Tax Credit for Children will receive six checks monthly from July to December 2021, which the IRS announced that it would deliver them on the 15th of each month, plus a seventh check that will arrive in 2022. Although in August it will be different since it falls on Sunday.
Checks for children: Until when?
The modification to the Tax Credit for children is not permanent. Despite President Biden’s aspirations to make it a constant aid, for now it is set for it to end next year.
He also hopes to be able to expand the education system from 12 to 14 years old and implement free childcare. “We should have a minimum of 14 years of education without spending a penny… Does anyone think in the 21st century, with the changes that are taking place in technology and in all areas, that 12 years of education is enough to be able to live enough? middle class life? I don’t think so, ”he said.
August 13 the second check arrives
The IRS confirmed that next Friday, August 13, it will issue the second payment of the Child Tax Credit, although not everyone will receive it immediately. The money will arrive first to those who have offered their bank details to the agency, as they will be able to quickly see the amount in the account reflected.
While those who did not do so will receive the help through a check that will be sent by post, he recalled The opinion. It may take a little longer for the envelope to arrive, perhaps a week or two, depending on the shipping service.
More checks to come
The IRS also announced the dates to send the missing checks from the Child Tax Credit, so that families who will benefit from this help can be on the lookout to receive the money they are entitled to. The first check was already sent on July 15, but there are still 5 checks to be delivered.
For this the IRS has established the following dates: July 15, for the first check that has already been sent, August 13 (since 15 falls Sunday), September 15, October 15, November 15, and finally the December 15. Although by 2022 a seventh check would be pending.
A seventh and bigger check
Help doesn’t end! Parents will also receive a one-time payment of $ 1,800 after the monthly checks of $ 300 that will arrive between July and December. This more ‘bulky’ check is also part of the Child Tax Credit under the American Rescue Plan for Biden.
According to the legislation, child support can be up to $ 3,600. The first $ 1,800 will be divided into 6 payments of $ 300 that will arrive in advance monthly checks from July through December. The remaining $ 1,800 will come in a single payment.
How to get the seventh check?
Parents will need to submit their 2021 tax return in order to claim the $ 1,800 dollars that would complement the Child Tax Credit. Child Tax Credit checks will only be available to eligible families, primarily lower and middle class families.
It is then, when many ask, do I qualify? According to the IRS, about 39 million families they will receive checks of up to $ 300 per month for each child under the age of six or up to $ 250 per month for each child between the ages of six and 17. The maximum to receive would be $ 3,600 for qualifying children under 6 years of age or up to $ 3,000 for qualifying children between 6 and 17 years of age
Do I qualify for the Child Tax Credit?
According to the IRS, “the new maximum credit is available to taxpayers with a modified adjusted gross income (AGI) of $ 75,000 or less for singles, $ 112,500 or less for heads of household and $ 150,000 or less for married couples that file a joint return and for qualified widows and widowers ”.
But what if a person earns more than that? If a person earns more than this amount, they can also receive the aid, although to a lesser extent. “Above these income thresholds, the additional amount above the original credit of $ 2,000, whether it is $ 1,000 or $ 1,600 per child, is reduced by $ 50 for each additional $ 1,000 in modified AGI,” explained the IRS.
How to obtain the Child Tax Credit?
Authorities have reported that about 90% of families in the United States will be eligible for monthly payments, he recalled. The Sun. They also indicated that those who filed their tax returns before May 17, 2021 will not have to take action, as their payments will be made automatically.
However, there are still families who, although they qualify, could stop receiving the monthly money because they have not provided their information to the IRS. If you have not done so, you have two options: file your tax return as soon as possible or use the tool Non-Filer Sign-up With which you can register to receive the Child Tax Credit in advance. Check HERE which one is the best fit for you.
How to confirm if I am eligible?
Recently, the IRS announced that they have a “Child Tax Credit Eligibility Assistant”In SPANISH, which will help families determine whether or not they are eligible for Child Tax Credit payments and an“ Update Portal ”, which will allow families to monitor and manage their Child Tax Credit payments.
“Before filing a return or using the Non-Filer Sign-up tool, families unsure if they qualify for the credit or prepayments may want to use another new tool: the Child Tax Credit Eligibility Assistant. ”Advises the agency. By just answering a few questions, you can do a preliminary check to see if they qualify for payments. This is not an enrollment tool. Biden’s promise that suggests there will be more aid checks.
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