- According to the IRS two deadlines that would jeopardize your Child Tax Credit check are approaching.
- The IRS has already issued the first three checks in July, August and September.
- The first deadline announced by the agency is on Monday, October 4.
According to the Internal Revenue Service (IRS), two deadlines that would put your Child Tax Credit check at risk if you don’t enter into contact with the agency promptly are approaching.
The American Rescue Plan stipulated six monthly payments in advance for eligible families that will arrive between July and December. The IRS has already issued the first three checks in July, August, and September, but what about the October payment?
Two deadlines are approaching that would put your check at risk
The IRS will send the next Child Tax Credit payment this October 15th, when it will write about $ 15 billion dollars in checks for beneficiaries, but also alerted those who have not registered that they have a limited time to do so.
The first END DATE announced by the agency is the next Monday, October 4, last day to request the next payment corresponding to the current month of the Child Tax Credit.
FIRST FINAL DATE: October 4
Beneficiaries who have not registered (or those who want to make any changes to their information) have until October 4 at 11:59 p.m. ET, if they expect to receive their check on time on October 15.
“A change made before 11:59 pm ET October 4 it will be applied to the October payment ”, explains the agency. So any eligible person who has not signed up still has until that date to do so. This also applies to those who wish to change their address, payment method, or even to those who want to stop receiving checks.
SECOND END DATE: October 15
If for any reason, an eligible person did not register by October 4 to receive Child Tax Credit payments, they will still have the opportunity to do so.
The agency established a SECOND DEADLINE, since October 15 It is the last chance for eligible individuals to sign up for the program, although they will no longer receive their October check, their benefit money will come later.
Make any modifications safely
The October 4 at 11:59 pm (Eastern Time) as the due date because the information obtained up to that point will be what the IRS will process for the October checks. This includes those who want to waive aid or those who have decided to change their payment method from physical check to direct deposit.
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“.
Enroll in the program
To determine an individual’s eligibility, the IRS uses the 2019 or 2020 tax returns and issues the payments for qualifying taxpayers automatically. However, some citizens do not file taxes because their income is low.
For people who do not usually file taxes and who are not registered in the IRS database, the agency has provided the tool Non-filer Sign-up they must use to claim the aid.
How much will I receive in my monthly checks?
Under the American Rescue Plan, families will receive a total of up to $ 1,800 for each child under the age of six, and up to $ 1,500 for each child between the ages of six and 17. This means that the monthly checks will be up to $ 300 for children under six years old and up to $ 250 for children between six and 17 years old.
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 will the next checks arrive for families?
The last quarter of the year is approaching and with it, the last three advanced checks of the Child Tax Credit that the IRS is distributing to eligible families through direct deposit or physical checks.
According to the IRS schedule, the next checks for 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 next October 15, November 15 and December 15.
Direct deposit or physical check?
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. Two deadlines are approaching that would put your check at risk.
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