- The IRS indicated that October 4 is the deadline to request the next payment for the Child Tax Credit.
- The agency has already delivered the first three checks (July, August and September) and is preparing for the next payment in October
- “A change made before 11:59 pm ET October 4 will be applied to the October payment ”, he explains
DEADLINE FOR CHECK. The Internal Revenue Service (IRS) indicated that October 4 is the deadline to request the next payment corresponding to the Child Tax Credit.
It is October 15th, the IRS will issue about $ 15 billion in payments to beneficiaries of the child tax credit. If you expect to receive your check on time, you have only until next Monday to register for the program.
October 4 is the deadline to request the next payment of the Child Tax Credit
Under the American Rescue Plan approved last March, eligible families will receive six monthly payments in advance that will arrive between July and December. The IRS has already issued the first three checks (July, August, and September) and is preparing for the next payment in October.
“A change made before 11:59 pm ET October 4 it will be applied to the October payment ”, explains the agency. So any eligible person who has not signed up still has until that date to do so and receive their check on October 15th. This limitation also applies to those who wish to change their address, payment method, or even to those who want to stop receiving checks.
Make any modifications safely
The October 4 at 11:59 p.m. (Eastern time) as the deadline because the information obtained up to that point will be what the IRS will process for the October checks. This includes those who want to waive aid or those who have decided to change their payment method from physical check to direct deposit.
To safely make these changes, the IRS recommends visiting the Child Tax Credit Prepayments in 2021 in which people can get more details that allow them to make smooth modifications to the Child Tax Credit Update Portal“.
Enroll in the program
To determine an individual’s eligibility, the IRS uses the 2019 or 2020 tax returns and issues the payments for qualifying taxpayers automatically. However, some citizens do not file taxes because their income is low.
For people who do not usually file taxes and who are not registered in the IRS database, the agency has provided the tool Non-filer Sign-up they must use to claim the aid.
How much will I receive in my monthly checks?
Under the American Rescue Plan, families will receive a total of up to $ 1,800 for each child under the age of six, and up to $ 1,500 for each child between the ages of six and 17. This means that the monthly checks will be up to $ 300 for children under six years old and up to $ 250 for children between six and 17 years old.
If you are still not sure whether or not you qualify to receive these checks, the IRS recommends using the Eligibility Assistant for advance payments of the Child Tax Credit. They will ask you for some personal information in order to confirm if you are eligible or not.
When will the next checks for families arrive?
The last quarter of the year is approaching and with it, the last three advanced Child Tax Credit checks that the IRS is distributing to eligible families through direct deposit or physical checks.
According to the IRS schedule, the next checks for up to $ 300 per child under the age of six and up to $ 250 per child between the ages of six and 17 will arrive next October 15, November 15 and December 15.
Direct deposit or physical check?
Child Tax Credit payments go to qualified families through direct deposits, which you can verify in your bank account right on the payment date established by the IRS, or through a physical check, which would arrive days later via postal mail.
In the latter case, the IRS asks beneficiaries for a little patience because payments could take a little longer to arrive. “For those who receive payments by check, be sure to allow additional time, until the end of September, for delivery by mail,” the agency said in its latest statement about payments issued on September 15.
IRS catches up on late payments
The IRS also clarified that in this third round that it issued in September it caught up with some late payments. “Families that did not receive a July or August payment and receive their first monthly payment in September will still receive their full advance payment for the year up to $ 1,800 for each child under the age of 6 and up to $ 1,500 for each child from 6 to 17 ″.
“This means that the total payment will be spread over four months, instead of six, which will increase each monthly payment. For these families, each payment is up to $ 450 per month for each child under 6 years of age and up to $ 375 per month for each child from 6 to 17 years old ”, they specified. October 4 is the deadline to request the next payment of the Child Tax Credit.