Photo: ANGELA WEISS / AFP / Getty Images
E l Internal Revenue Service (IRS) will begin on 15 July with shipping up to $ 3, 600 dollars per child , program contemplated in the American Rescue Plan (ARP).
The Treasury Department and the IRS announce that monthly payment of up to $ 300 dollars of the Child Tax Credit (CTC) extended will be performed every 17 of the month.
“Approximately 39 million households, covering the 88 percent of children in the United States are programmed to begin receiving monthly payments without the need for any other action, “said authorities.
It is one of the most defended programs for the government of the president Joe Biden and the Democrats in Congress integrated into the rescue plan against COVID – 19 approved last March.
This action allowed increasing the tax credit to $ 3, 600 dollars for children under 6 years and $ 3, dollars for children ages 6 to 15 years .
“It is projected that the The American Rescue Plan will lift more than five million children out of poverty this year, reducing child poverty by more than half ”, highlighted the Government.
Although payments are scheduled for on 15 of each month, that could change when that day falls on a weekend or holiday.
“The families eligible will receive a payment of up to $ 300 dollars per month for each child under 6 years of age and up to $ 250 dollars per month for each child 6 years and older ”, indicates the Biden Administration.
In the absence of a bank account
The authority indicates that households that have among their members more than 65 Millions of children will receive monthly payments through direct deposit, paper check or debit cards.
“The Treasury and the IRS are committed to maximizing the use of direct deposit to ensure fast and secure delivery,” he says.
Despite that taxpayers will not be required to take any action to receive the funds, some people may not know they are eligible and the authorities do not have their data , for this reason the Treasury and the IRS reinforce actions with associated groups to so that more families know their eligibility.
This economic aid is one of the most celebrated by economists, because the funds go directly to the care of children.
“There are studies that estimate that a monthly payment of these characteristics would reduce child poverty by half , which is a lot ”, explained the economist Andrés Vinelli, Vice President of Policies Economics of the Center for American Progress (CAP).
The Biden Administration seeks to extend credit to 2025 , as part of the Plan for American Families that Congress will discuss in the following weeks.
Third stimulus check
The IRS has also distributed approximately 165 million payments on the third stimulus check since 12 March.
The disbursement has been from $ 400, 000 millions of dollars of resources allocated by Congress in the ARP.
Although that $ 1 aid is still in distribution, 400 dollars, there is a growing public debate over a possible fourth paycheck stimulus , on which the White House has said that it will depend on “the proposal of congressmen.”
To know more
>> The credit per child is fully refundable.
>> Taxpayers can benefit even if they have no earned income.
>> People can receive part of their credit in 2021 before filing your tax return of 2021.
>> Increased amounts are eliminated, for those with income greater than $ 150, 03 annual dollars for married taxpayers filing a joint return.
>> For more details visit irs.gov (in Spanish).