Child Tax Credit: this week comes the fourth payment



Child Tax Credit: this week comes the fourth payment

The Child Tax Credit has been an instrument to combat poverty.

Photo: Mario Tama / Getty Images

On October 15, the Internal Revenue Service (IRS) will release the fourth payment corresponding to the Child Tax Credit, with this delivery there would only be two more rounds corresponding to this 2021.

It is essential that people who have not enrolled in the program do so before this date, since the federal government will stop the portal and you will no longer be able to receive the remaining payments for November-December, which will undoubtedly be a relief for millions of people in the Christmas season.

For this reason, the IRS urged all citizens who do not have sufficient financial resources, that if they register and make use of the tools offered so that applicants for the benefit can access it, the deadline for this is October 15.

For those who signed up late and did not receive the other payments, they should not worry, since you can claim that money next year within the framework of tax season, so if you meet your tax obligations you have guaranteed that money.

Despite the fact that this government strategy has allowed millions of families to get out of poverty rates according to existing criteria, not everything has been entirely positive with the payments of the Child Tax Credit, since there have been many delays.

Some of the beneficiaries must be patient for the payment to be reflected, via direct deposit, or for the check to arrive in their mailbox. In August and September delivery of payments were marked by scattered mishaps.

According to the IRS, the setbacks that occurred in the delivery of the payments, only affected 2%, about 700,000 people, of the beneficiaries who received the advance payment did not receive the resource on time September 15.

Most families automatically receive monthly payments of $ 300 for each minor with an age limit up to five years, on the other hand there are beneficiaries who are receiving $ 250 for each minor from six years to 17 years.

Under current law, the maximum child tax credit increased to $ 3,000, previously it was $ 2,000 per child for children 6 years and older, and increased to $ 3,600 for children five years and younger. The age limit was raised from 16 to 17 to cover more teens, for a maximum of $ 3,000.

You may also like: Child Tax Credit: Only 35% of US voters would like to make it permanent



Source-laopinion.com


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