Photo: Zach Gibson / Getty Images
The Internal Revenue Service (IRS) will deposit and send by mail this Friday, 13 August, the second payment under the Biden Administration’s Child Tax Credit (CTC) extension to millions of Americans.
This is the selected date this month for the early release of funds by virtue of the approval of the third stimulus bill in the United States Congress.
The “Plan US rescue ”increased the amount of retail money under the CTC and provided for six monthly early deliveries between July and December of this year.
The first payment was issued on 15 July to eligible families.
First payments will arrive by deposit direct
The first to receive the incentive are taxpayers who submitted their bank account information for direct deposit to the IRS.
The new Biden Administration program provides for a maximum of $ 3, 300 dollars for each qualifying child under 6 years of age, and $ 3, 000 for each child between 6 and 17 years.
Regarding the monthly amount, families that qualify for the extended credit will receive a payment of up to $ 300 per month for each child 6 years and under and up to $ 250 per month for each child aged 6 to 17 years.
The amount that the IRS will finally send will also depend on the income of the minor’s guardian or guardians.
Families can verify the status of s payments through update portal on IRS.gov
On IRS enabled several free services on its website (IRS.gov) to check eligibility and track payment arrival .
Through the Child Tax Credit Update Portal, the users can check if the payment scheduled for today is pending or has already been processed .
The first case means that the IRS is still reviewing your account to determine eligibility.
Through the site, people can also follow updates.
Why didn’t I receive my first payment for July while still eligible?
In the event that you are eligible, but did not receive the first payment, the agency may need to e to submit your personal information and that of dependents.
If you are required to file taxes and have not yet done so, you must submit a return how much earlier for the office to process Child Tax Credit payments.
If you are not required to report income to the IRS because it generates very little In any case, you can submit a form or enter your data through the “Non-filers Sign-Up” tool .
Beneficiaries can cancel subscription to monthly payments
In case you prefer to receive a single total payment , you can unsubscribe from the monthly deliveries, also through the upgrade portal.
People can cancel your registration at any time , but there are deadlines every month for the a update becomes effective for the next.
“For people who are married and file a joint return, they and their spouse must cancel the registration by the Portal for updating the Child Tax Credit. If only one person unsubscribes, they will still receive half of the normal pay. Likewise, if you change your bank account information, both of you must update so that both halves of your payment go to the new account, ”the IRS explained on its website.
It may interest you: