IRS: Americans Who Would Receive Biden’s Second “Child Tax Credit” Check This Friday


IRS: Americans Who Would Receive Biden’s Second “Child Tax Credit” Check This Friday

Millions of families in the US will receive as of this Friday the second check corresponding to the extension of the “Child Tax Credit” from the Biden Administration.

Photo: Bryan Bedder / Getty Images

American families who received their first advance check on July 15 under the Biden Administration’s “Child Tax Credit” (CTC) extension, will receive the second starting this Friday, August 13, unless they have asked the Internal Revenue Service (IRS) to unsubscribe for monthly payments through December.

If you recently submitted your personal and dependent information by the established deadline, through the “Non-filers Sign-Up” portal that the IRS enabled on its website, would also be receiving the payment of this month and the previous one.

One detail to consider is that the payments that will first be reflected are those that the IRS will deposit in the bank accounts of the beneficiaries who submitted that information to the agency. After the IRS transfers the money, the funds will appear as pending until Wednesday of the following week (official payment date) when the recipients will be able to freely use them. The rest of the checks will arrive by post later. The precise date of arrival in the mailbox for these payments has not been specified by the IRS, but in the cases of stimulus checks, in some cases, they took weeks to arrive at their destination.

161 million payments in July to CTC eligible families

In the first round of deliveries under the credit extension as part of the “American Bailout Plan”, the agency disbursed 161 million payments to eligible families in all the country. The same number of shipments will begin to be released this Friday.

In the case of August, the official shipping date falls on the 13th, because the 15th is Sunday, a non-working day. For the rest of the months through December, payments will be issued every 15 days.

If you are eligible for CTC funds and have not received them, the IRS may not have the correct mailing or bank account address to process the payment. To resolve the problem, you can access the “Child Tax Credit” Check Information Update Service available on IRS.gov.

Another reason you haven’t received the appropriate payments could be that the IRS has not yet processed your 2020 tax return if you filed it late.

Up to $ 3,600 per CTC eligible under 6

This year, as a result of the passage of the third stimulus bill, the CTC awards up to $ 3,600 for each qualifying child under the age of 6, and $ 3,000 for each child between the ages of 6 and 17 in the family.

The first monthly payments for the expanded CTC were sent on July 15 and will continue to be sent monthly until December 15. Eligible families who do not cancel their enrollment in monthly installments will receive a payment 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.

Advance payments correspond to 50% of the total annual payment. The remaining 50% of the amount, the parent or guardian parents must claim on the tax return next year.



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