Photo: Aurelia Ventura / Impremedia / La Opinion
Next Monday, November 15, the Internal Revenue Service (IRS) will release the penultimate payment corresponding to the improved Child Tax Credit of 2021. Millions of families have benefited and have been able to face the economic havoc left by the Covid-19 pandemic.
Although the aid is about to expire, those who have not received the payment, can still request it until November 15, can register to receive the payments on the GetCTC.org website.
While the IRS is sending two more payments, on November 15 and December 15, families who sign up now will receive a check as a lump sum in December. The payments of this tax benefit were released in July and were divided into six rounds.
Families that enroll in the program will receive a one-time payment for the amount corresponding to the six rounds, that is, $ 1,800 for each child under the age of six and $ 1,500 for children older than 17 years.
Parents or guardians who qualify for the payments will receive the other half of the expanded Child Tax Credit when they file their tax return in early 2022, through a tax refund.
Now, those who do not meet the November 15 deadline, for whatever reason, should not worry, since they can receive the full money, but until 2022, as long as they file their taxes and claim the credit in said process.
In accordance with current law, the expanded Child Tax Credit increased the benefit to $ 3,600 for each child under age 6 and to $ 3,000 for children ages 6 to 17.
Under this programmatic planning of the federal authorities, the beneficiary families received monthly payments of $ 300 dollars for children under six years of age and $ 250 dollars for each child from six to 17 years old.
Taking into account that this tax benefit is designed to combat poverty, it is essential that people who have the least take advantage of this opportunity to to be able to face the precariousness that is being experienced in the country.
According to a study by the Urban Institute on the implementation of Child Tax Credit payments, it indicates that “families with very low incomes are not required to file tax returns, although some do.”
The investigation proposes that “those who do not do so, who do not declare, run the risk of missing the advance payments of the Tax Credit for Children before December, when the payments of the 2021 credit will stop”, a situation that puts them in a position of vulnerability.
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