Time to claim Child Tax Credit checks is running out

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Time to claim Child Tax Credit checks is running out
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  • Time to claim Child Tax Credit checks is running out, but eligible families still have a few days to enroll.
  • So far, millions of families in the United States have already received their first three advance checks, of the six in total.
  • The IRS has left the door open for eligible families who have not signed up.

Time to claim Child Tax Credit checks is running out, but eligible families still have a few days left to register and apply for federal assistance under the American Rescue Plan.

The Internal Revenue Service (IRS) began distributing the Child Tax Credit funds on July 15. So far, millions of families in the United States have already received their first three advance checks, of the six in total.

Time is running out to claim Child Tax Credit checks

Time is running out to claim Child Tax Credit checks
PHOTO Shutterstock

Although the delivery of payments has already begun and many are already registered, the IRS has left the door open for eligible families who have not registered, because they normally do not file a tax return.

Even so, the countdown has begun so that this opportunity to claim the monthly advance checks of the Child Tax Credit is over and the agency will close that door next October 15th.

Help available until October 15

Time is running out to claim Child Tax Credit checks
PHOTO Shutterstock

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 IRS has indicated that non-taxpayers should make use of the tool Non-filer Sing up available on your website until October 15 to leave basic information that allows the agency to send you the money that corresponds to you.

Do I qualify for assistance?

Time is running out to claim Child Tax Credit checks
Photo: Shutterstock

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 ages 17 and older are also eligible for $ 500.

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.

When does the next check arrive?

Next week the new checks for $ 1,800 will begin to fall
Photo: Shutterstock

Under the American Rescue Plan, this year qualifying families will 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 will arrive between July and December will be up to $ 300 for children under 6 years old and up to $ 250 for children between 6 and 17 years old.

The Internal rents service The IRS has already sent the first three payments, but there are still three more to be delivered. All eligible families who have signed up or who have not canceled their subscription to the program before October 4 will start receiving their cash from the next October 15th.

How does the Child Tax Credit work?

Tax credit would give help for the undocumented
PHOTO Shutterstock

According to legislation passed in March, families will receive up to $ 3,600 for each child under 6 years of age and up to $ 3,000 for each child between 6 and 17 years old. The first half of that money will come through the six monthly advance payments from July to December.

Parents will have to claim the $ 1,800 remaining next year when you file your 2021 tax return. To determine your eligibility, the IRS is using the information you provided on your 2020 or 2019 taxes.

Payment calendar

Why Some Parents Will Get Tax Credits Worth $ 600 Per Child This Month
Photo: Shutterstock

According to the tax collection agency, the next check would be reaching the beneficiaries as of October 15th through direct deposits or physical checks.

The IRS schedule states that the following payments of up to $ 300 per child under the age of six and up to $ 250 per child between the ages of six and 17 will arrive on October 15, November 15 and December 15.

Direct deposit or physical check?

Why Some Parents Will Get Tax Credits Worth $ 600 Per Child This Month
Photo: Shutterstock

Child Tax Credit payments go to qualified families through direct deposits, which you can verify in your bank account right on the payment date established by the IRS, or through a physical check, which would arrive days later via postal mail.

In the latter case, the IRS asks beneficiaries for a little patience because payments could take a little longer to arrive. “For those who receive payments by check, be sure to allow additional time, until the end of September, for delivery by mail,” the agency said in its latest statement about payments issued on September 15.

Refuse help or make modifications safely

stimulus check
Photo: Shutterstock

Some families prefer to decline assistance or change their payment method from physical check to direct deposit. For the payment of the month of October it is already late, but if you plan to make a modification later, you can follow the following calendar: until November 1 for the payment of November 15 and until November 29 for the payment of the 15 from December.

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“. Time is running out to claim Child Tax Credit checks.

The post Time is running out to claim Child Tax Credit checks appeared first on Hispanic World.