Some families may qualify for an $8,000 check in 2022

Some families may qualify for an $8,000 check in 2022. The American Rescue Plan included financial support to offset the expenses incurre...

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  • Some families may qualify for an $8,000 check in 2022.
  • The American Rescue Plan included financial support to offset the expenses incurred by families for the care of children and other dependents.
  • Parents will be able to claim generous checks for $8,000 dollars if they have only one dependent or up to $16,000 if they have several dependents.

YOU COULD HAVE $8,000 IN YOUR POCKET! Some families in the U.S. could qualify for checks up to $8,000 in 2022 as there is still more financial aid from the American Rescue Plan to distribute.

The American Rescue Plan, approved last March, included an increase in the Child Tax Credit and also financial support to offset the expenses incurred by families for the care of children and other dependents. This check will come in 2022.

Families may qualify for checks up to $8,000 in 2022

Families will receive checks for $ 8,000 dollars in the next few days
Photo: Shutterstock

Unlike other years, in 2022 parents will be able to claim much more generous checks for $8,000 dollars if they have only one dependent or up to $16,000 if they have multiple dependents. The purpose of these checks is to help you cover expenses that arise from dependent care.

This payment is part of the Child Tax Credit but it has nothing to do with the monthly advance checks the Internal Revenue Service (IRS) sent from July to December, or the outstanding check for up to $1,800 that it will send this year. This check is for parents of children under 13 years of age and for spouses or parents who have a disability or who cannot take care of themselves.

Who qualifies for this check?

Families will receive checks for $ 8,000 dollars in the next few days
Photo: Shutterstock

For dependent care checks, parents must have an adjusted gross income of less than $125,000 annually. These families are entitled to a payment equivalent to 50% of expenses that they incurred for the care of their dependent(s).

This is the maximum aid amount that would be awarded to eligible families earning less than $125,000 annually. However, if a family earns between $125,000 and $183,000 they may still qualify, although they would only receive the equivalent of 20% of expenses, explained iHeart.

When will these checks arrive?

Families will receive checks for $ 8,000 dollars in the next few days
Photo: Shutterstock

These checks for up to $16,000 dollars will reach the beneficiaries in 2022. However, in order to receive them families will first have to claim them. Unlike the monthly advance checks that the IRS distributed automatically, parents must request the funds for this program on their tax return which they can file online.

Previously, families could claim this money from the IRS, but it was a benefit for only up to $6,000 for two or more dependents. With the American Rescue Plan, the amount was increased to up to $16,000 dollars for families to cover their dependent care expenses.

What can I claim as dependent care expenses?

Families will receive checks for $ 8,000 dollars in the next few days
Photo: Shutterstock

According to the IRS, this assistance is, “a credit granted to cover a percentage of work-related expenses incurred by a taxpayer for the care of qualified persons to enable them to work or look for work.” The objective of this federal government program is to provide financial support to working families so that they can afford the expenses of supporting their dependents while they work.

Thus, for example, qualified expenses for the care of a dependent include 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?

Checks for $ 8,000 are coming after Christmas, are you among the lucky ones?
PHOTO Shutterstock

The IRS has indicated that beneficiaries don’t 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 they will need to ask for it. Families will have to file Form 2441, where they disclose their income and provide information on the expenses they incur for the care of their dependents.

In addition to the funds for the care of a dependent, the IRS still needs to send the check equal to half of the Child Tax Credit. This would be a check for up to $1,800 that parents will also have to claim on their 2021 tax return.

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

Photo: Shutterstock

Child Tax Credit payments are available to families with children up to 24! Although it’s a program mainly designed for children up to 17 years old, there is also a lower amount of aid for young people between 17 and 24 years old, The Sun pointed out.

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

Do I Qualify for the Child Tax Credit?

Photo: Twitter

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

The American Rescue Plan indicated that this year eligible families would receive a total of up to $1,800 for each child under the age of 6, and up to $1,500 for each child between the ages of 6 and 17. That is, the monthly advance payments that arrived between July and December would be up to $300 for children under 6 years old and up to $250 for children between 6 and 17 years old. Surprise $8,000 checks will start arriving THIS WEEK.

The post Surprise $8,000 checks will start arriving THIS WEEK appeared first on Mundo Hispanico

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