October 15 Check: Who Will Receive the Child Tax Credit payment?

The IRS announced on Friday the shipment of the fourth batch of Child Tax Credit payments to millions of American families. Around $ 15 b...

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  • The IRS announced on Friday the shipment of the fourth batch of Child Tax Credit payments to millions of American families.
  • Around $ 15 billion was invested, which will be distributed to about 36 million families throughout the country.
  • Most payments will be made by direct deposit and some people will receive it by paper check.

October 15 check. The Internal Revenue Service (IRS) and the Treasury Department announced on Friday that they had sent the fourth batch of Child Tax Credit payments to millions of American families, according to an official statement.

In this fourth batch of advance payments, about $ 15 billion was invested, which will be distributed to about 36 million families throughout the country. Most payments will be made by direct deposit and some people will receive it by paper check.

October 15 check

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Check October 15: Who will receive the Child Tax Credit ?. Photo: Shutterstock

According to the American Rescue Plan, the majority of eligible families received payments dated July 15, August 13, and September 15, the vast majority by direct deposit. Future payments are scheduled for November 15 and December 15.

The payment that corresponds to the Child Tax Credit is up to $ 300 per month for each child under 6 years of age and up to $ 250 per month for each child from 6 to 17 years old. To be eligible, families must have completed the 2019 or 2020 income tax return.

If you have not received your payment, do not despair

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Check October 15: Who will get the Child Tax Credit? Photo: Shutterstock

If you receive your payments by paper check and it has not yet arrived, do not worry. Those who receive their payments by paper check should allow additional time, possibly until the end of October, for delivery by mail.

Those who wish to receive future direct deposit payments can make this change using the Child Tax Credit Update Portal, available only on IRS.gov. There they can also check the status of their payment.

Families do not have to do anything if they are eligible to receive payments

Who received these checks? Check 15

Check October 15: Who will get the Child Tax Credit? PHOTO: Getty Images

Payments are automatic. In addition to filing a tax return, including a simplified return from the Non-Tax Registration Tool, families do not have to do anything if they are eligible to receive monthly payments.

Families that did not receive a July, August or September payment and are receiving their first monthly payment this month will still receive their full advance payment for the year. This means that the total payment will be distributed in three months, instead of six, which will make each monthly payment be higher, according to the IRS.

Deadline is approaching

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Check October 15: Who will get the Child Tax Credit? Photo: Shutterstock

The deadline to exclude yourself from child tax credit advance payments is next November 1 at 11:59 pm ET. Also, those who do wait for their monthly check can track their payment through the IRS tool.

Although the monthly advance payments given between July and December will be up to $ 300 for children under 6 years old and up to $ 250 Dollars For children between the ages of 6 and 17, those parents who did not receive the money in the previous months will receive an adjusted amount for each child, since the remaining checks will be distributed in three months instead of six.

Most payments will be by direct deposit

Babies born in 2021 will also receive MONEY

Photo: Shutterstock

This fourth batch of monthly advance payments, totaling about $ 15 billion, is reaching about 36 million families across the country today. Most payments will be made by direct deposit, the IRS reported in a statement this Friday.

According to the American Rescue Plan, most eligible families received payments on July 15, August 13, and September 15. Future payments are scheduled for November 15 and December 15. For these families, each payment is up to $ 300 per month for each minor child. 6 and up to $ 250 per month for each child ages 6 to 17. The vast majority will be issued by direct deposit.

Some families will receive more money

Babies born in 2021 will also receive MONEY

Check October 15: Who will get the Child Tax Credit? Photo: Shutterstock

“Families that did not receive a July, August or September payment and are receiving their first monthly payment this month will still receive their full advance payment for the year,” the IRS said. This means that the total payment will be spread over three months, instead of six, making each monthly payment larger.

The agency indicated that the payments are automatic, so families do not have to do anything if they are eligible to receive monthly payments in addition to filing a tax return, including a simplified return from the Non-Taxpayer Registration Tool.

One-time payment for some families

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Check October 15: Who will get the Child Tax Credit? Photo: Shutterstock

On October 15, the following payment of the tax credit for children was sent; however, it should be noted that families with college-age dependent children ages 18-24 will still be able to receive a one-time payment of $ 500 as extra help.

The Internal Revenue Service (IRS) indicated that to be eligible for this one-time payment, children ages 19 to 24 must be claimed as dependents and must attend college full-time, as well as have a social security number.

When will this one-time payment arrive?

money

Check October 15: Who will get the Child Tax Credit? Photo: Shutterstock

The one-time payment of $ 500 for families with college-age children will be sent when filing 2021 taxes early next year, according to CNET. The IRS indicated that the income limits with the extended child credit are also the same for these one-time payments.

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 with dependent youth over the age of 18 also qualify for $ 500.

How do you know if you qualify for the check?

money

Check October 15: Who will receive the Child Tax Credit ?. Photo: Shutterstock

If you are still not sure 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 in order to confirm if you are eligible or not.

Ashley Burnside, Policy Analyst at the Center for Law and Social Policy, said: “If parents have not yet received payment and are eligible to receive it, it is not too late to sign up. They can use the IRS portal; that is still an option ”, as collected The Sun.

The post Oct 15 Check: Who Will Receive Payment for the Child Tax Credit? appeared first on Hispanic World.

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