- The Internal Revenue Service (IRS) announces the deadline for people to claim their Child Tax Credit check.
- Monthly Child Tax Credit payments began to be distributed last July.
- If you have not registered for assistance, you have until October 15 to do so.
The Internal Revenue Service (IRS) announces the deadline for individuals to claim their October Child Tax Credit check.
Monthly Child Tax Credit payments began to be distributed last July. However, despite the fact that three payments have already been issued, some citizens still do not know if they are eligible and are missing a lot of financial aid.
IRS Announces Deadline to Claim Your October Check
ATTENTION. There are still families who, although they qualify, may not be receiving the monthly money because they have not provided their information to the IRS. If they have not done so, they can use the tool Non-Filer Sign-up until the next October 15th With which they can register to receive the Child Tax Credit in advance.
However, if a family expects to receive the next payment scheduled precisely for October 15, they will have to hurry as the IRS has made it clear that they have only until the end of the month to offer their data and thus ensure that the payment for the month of October reaches them on time.
What if I am already receiving my monthly payments?
Families already receiving Child Tax Credit payments do not need to take any action to continue receiving the money each month. Although some may want to change their address, payment method and even cancel payments, for which they will have to use the Child Tax Credit Update Portal.
For these cases, the agency also set a deadline. “A change made before 11:59 pm ET October 4 will be applied to the October payment ”, they explain and recommend visiting the Child Tax Credit Prepayments in 2021 for more details to allow you to make any modifications smoothly.
Many still do not claim their credit
The IRS continues to send the checks month to month, but there are still thousands of families who have not claimed the help. In fact, an IPSOS survey shows that one in five people who have never claimed the credit believe they are ineligible, it reported Forbes.
These child credits are automatically issued to eligible individuals who have filed a 2019 or 2020 tax return; But people who do not usually file taxes must register through a tool on the IRS website and must do so before October 15.
How will the payments get to me?
Child Tax Credit payments could reach qualified families in two ways: through direct deposits, which arrive immediately to the bank accounts of the beneficiaries on the date stipulated by the IRS, or through a physical check.
This last group would have to wait a little longer. “For those who receive payments by check, be sure to allow additional time, until the end of september, for delivery by mail ”, they indicated about the September payments issued on September 15.
Who will receive this third check?
According to the IRS, “the new maximum credit is available to taxpayers with a modified adjusted gross income (AGI) of $ 75,000 or less for singles, $ 112,500 or less for heads of household and $ 150,000 or less for married couples that file a joint return and for qualified widows and widowers ”.
But what if a person earns more than that? If you earn more than this amount, you can also receive the aid, although to a lesser extent. “Above these income thresholds, the additional amount above the original credit of $ 2,000, whether it is $ 1,000 or $ 1,600 per child, is reduced by $ 50 for every additional $ 1,000 in modified AGI,” explained the IRS.
More checks to come
There are still checks to be delivered. Under the American Rescue Plan, qualifying families will receive six payments from July to December “of up to $ 300 per month for each child under age 6 and up to $ 250 per month for each child ages 6 to 17.”
So far, the IRS has sent the first three checks on July 15, August 13, and now September 15. According to its schedule, three more checks would be pending and will reach the beneficiaries on October 15, November 15 and December 15.
Money on the way
The IRS indicated that “the payments went to eligible families who filed a 2019 or 2020 tax return” and that for this third check they had also issued the payments for the processed returns until August 30.
Even people who don’t normally file a tax return, but used the tool in 2020 Non-Filers or in 2021 they used the tool Non-filer Sign-up they will be receiving their advance payment of the Child Tax Credit this September.
How to claim my check?
The IRS has specified that payments are issued automatically to all families who qualify for assistance based on the information they have provided the agency on their 2019 or 2020 tax returns, so they do not need to do anything to receive your check.
However, people who do not usually file taxes and who are not registered in the IRS database should use the tool Non-filer Sign-up to claim help.
IRS catches up on late payments
The IRS also clarified that in this third round they will be catching up with some late payments. “Families that did not receive a July or August payment and receive their first monthly payment in September will still receive their full advance payment for the year up to $ 1,800 for each child under the age of 6 and up to $ 1,500 for each child from 6 to 17 ″.
“This means that the total payment will be spread over four months, instead of six, which will increase each monthly payment. For these families, each payment is up to $ 450 per month for each child under 6 years of age and up to $ 375 per month for each child from 6 to 17 years old ”, they specified. IRS Announces Deadline to Claim Your October Check.
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