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The Internal Revenue Service (IRS) reported that some of the families that received the first monthly check last July under the extension of the “Child Tax Credit” (Child Tax Credit, CTC) from the Biden Administration through direct deposit, will receive the this month as a paper check in the mail.
Regarding the causes of this change, the IRS limited itself to indicating that it was due to an unspecified problem and that it should be resolved by the time the refund of the third CTC payment is due in September.
“The IRS wants to alert some recipients who received direct deposits in July that they will receive August payments in the mail. Due to a problem that is expected to be solved with the September payments, a percentage of these recipients (less than 15%) who received payments by direct deposit in July will be sent paper checks for the August payment ”, warned the agency in a statement Friday.
“For those affected, it is not necessary to take any additional action for the September payment to be issued by direct deposit. Families can visit the Child Tax Credit Update Portal to see if they receive a direct deposit or paper check this month, “added the entity.
Checks mailed through the United States Postal Service (USPS) take longer to reach their destination.
In the case of payments by check this month, the tax collecting office specified that the delivery would take place at the end of August.
“Those who receive their payments by check should make sure to allow additional time for delivery by mail until the end of August. Those wishing to receive future direct deposit payments can make the change through the Child Tax Credit Update Portal, available on IRS.gov. To access the portal or for a new step-by-step guide to using it, visit IRS.gov/creditoporhijos2021. A change made before 11:59 pm ET on August 30 will apply from the September payment, ”the IRS stated.
On Friday, the IRS released the second check under the CTC to some 36 million families in the US worth $ 15 billion.
People whose payments were processed by electronic transfer to bank accounts will be able to dispose of the money as of this Wednesday, August 18, in the morning when the official payment date is met.
The Biden Administration’s “American Rescue Plan” provided for monthly payments in advance between July and December of this year to the families that maintain the inscription.
The homes they prefer a single one-time payment in 2022, they must ask the IRS virtually to unsubscribe from monthly payments on the “Child Tax Credit Update Portal.”
Changes to the tax law increased the amount of money per eligible minor which now sets a maximum of $ 3,600 for each qualifying child under the age of 6, and $ 3,000 for each child between the ages of 6 and 17.
Regarding monthly payments, families that qualify will receive a payment of up to $ 300 per month for each child ages 6 and under and up to $ 250 per month for each child ages 6 to 17.
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