- The White House has suggested that families could receive a DOUBLE check for children in February.
- In March, the Senate approved the American Rescue Plan that contemplated the expansion of the Child Tax Credit, but only for this year.
- Everything will depend on future decisions in the Senate.
DOUBLE CHECK IN FEBRUARY! It seems that the year 2022 will begin full of abundance for parents in the U.S as the White House has suggested that families could receive a DOUBLE check for the Child Tax Credit this coming February.
In March, the Senate approved the American Rescue Plan that contemplated the expansion of the Child Tax Credit. However, this modification was planned only for this year and it is still uncertain what will happen to the tax credit in 2022, especially after the Build Back Better Act has stalled. Still, there is hope.
White House: Families Could Receive DOUBLE Check for Children in February
Through this program, the Internal Revenue Service (IRS) has sent six monthly checks. The first of them reached beneficiaries on July 15 and the last was sent on December 15. Although there is still a pending payment for up to $1,800 that will be sent early in the New Year.
More than 36 million families across the United States have enjoyed the monthly advance payments. In this last batch for December about $16 billion dollars was distributed. So if these monthly checks have come to an end, why is there talk of a DOUBLE CHECK for February?
Families could receive DOUBLE check for children in February
While it’s true that the Build Back Better legislation has stalled in the Senate, there are still opportunities for Democrats to get the votes they need to give it the go-ahead. If approved, the child tax credits would be extended for at least one more year.
However, this also means that the IRS will have to resume payments and it takes time to do so. If the Senate doesn’t give approval early enough, then the IRS won’t be able to organize its monthly payment system in time to write the January checks. So the White House has suggested that an alternative is for the IRS to send double payments in February, The Sun noted.
The Build Back Better Act
The Build Back Better Act is a proposal by the Biden Administration. At first, he raised the idea that the payments for the Child Tax Credit would be extended until 2025, but in the effort to get more votes in favor, they reduced it to only one more year, the newspaper added.
The plan has been opposed by Democratic senator Joe Manchin, whose vote was key to its approval. This week he said he was against the legistlation. Manchin is concerned about the amount of spending and its effects on inflation. “The nonpartisan Congressional Budget Office determined the cost to be more than $4.5 trillion, which is more than double what fervent supporters of the bill have claimed. They continue to camouflage the real cost of the intent behind this bill,” he said.
Is there still hope of getting these checks?
Yes, the provisions on the Child Tax Credit could still be revised and modified with the idea of convincing some naysayers like Manchin. For example, Senator Manchin himself suggested adding a work requirement for recipients of monthly payments.
For now, the future of Child Tax Credit payments is in the hands of the legislators and since they have not yet reached an agreement, it is very likely that parents will have to wait to receive another monthly payment. In that case, some of these benefits will accumulate.
The last checks for the Child Tax Credit arrive
According to the Internal Revenue service (IRS) schedule, as of December 15 parents would be receiving the last monthly check for the Child Tax Credit through direct deposit or a physical check that will arrive in their mailbox. Although there is still money to be delivered.
Last March, the Senate approved the delivery of up to $1,800 for each child under 6 years of age and up to $1,500 dollars for each child between the ages of 6 and 17, which would be delivered in 6 monthly checks from July to December. However, the same legislation contemplates an additional single payment also of up to $1,800 for each child under 6 years of age and up to $1,500 dollars for each child ages 6 to 17. Only this time the parents will have to claim it.
How to receive the additional single payment?
Beneficiaries of the Child Tax Credit will have to claim the remaining half of the aid on their tax return next year to receive the money in early 2022, reported the Internal Revenue Service.
For now, parents will receive the last check for advance payments of up to $300 per month for each child under 6 years of age and up to $250 per month for every child between the ages of 6 and 17. The agency has sent the payments in direct deposits or paper checks.
Are you eligible?
At this point, there are still those who don’t know if they qualify. One in five Americans believe they are not eligible to receive the Child Tax Credit checks, according to a survey by IPSOS, a company that does market research. Incredible! But those who need it most may be passing up generous federal aid.
Child Tax Credit checks are automatically issued to eligible families who have filed taxes. Non-filers must register through the IRS website. Here’s if you qualify for assistance.
Do I qualify for assistance?
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 of dependent youth ages 17 to 24 also qualify for $500.
To determine your eligibility, the IRS uses the information you provided on your 2020 or 2019 taxes. If you are still unsure 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.
Can I still claim the Child Tax Credit?
There’s still time to get the $1,800 payment, although it is too late to receive it this year. Still, the IRS has indicated that the only way to register for the program is online. “To do it, quickly and safely, visit IRS.gov/creditoporhijos2021. Families can choose to apply in English or in Spanish,“ explained the federal agency.
On the other hand, there are those who prefer to reject the aid or change their payment method from physical check to direct deposit so that it does not affect their taxes for next year. To make these changes safely, 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.
Up to what age do children qualify for the Child Tax Credit?
Child Tax Credit payments are available to families with children Up to 24 years old! Although the advance monthly checks are only provided for young people up to 17 years of age, there is also a help for a smaller amount for the older ones, according to The Sun.
Congressman Steve Cohen explained that, “age is determined on December 31, 2021. If your child turns 18 this year, then he is not eligible for the monthly Child Tax Credit. However, the American Rescue Plan provided a one-time $500 credit for dependent children age 18 and for dependent full-time college students ages 19-24.” White House: Families Could Receive DOUBLE Check for Children in February.
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