When will the next checks for families arrive?

• The Internal Revenue Service (IRS) has been sending Child Tax Credit payments to millions of beneficiaries in the country
• The agency has already sent three stimulus payments, which reached eligible parents on July 15, August 13, and September 15.
• When will the next checks for families arrive?

The Internal Revenue Service (IRS) has been sending Child Tax Credit payments to millions of beneficiaries across the country, and many are already waiting for the following: When will the next checks arrive for families?

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The agency has already sent three stimulus payments, which reached eligible parents on July 15, August 13 and most recently September 15, but there are still three more checks to send.

When will the next checks for families arrive?

The last quarter of the year is approaching and with it, the last three advanced checks of the Child Tax Credit 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.

I prefer to receive direct deposit

You can also modify WHEN your payments arrive. If you are one of those who must wait for your check to arrive in the mailbox and now you prefer to change your payment method to direct deposit, you can do so. “Those who wish to receive future payments by direct deposit can make this change through the Child Tax Credit Update Portal“.

Of course, the agency makes it clear that people have a deadline to do so. “A change made before 11:59 pm ET October 4 will be applied to the October payment ”, they explain and recommend visiting the Child Tax Credit Prepayments in 2021 for more details to allow you to make the modification smoothly.

Children in college

Much is said about payments for children under 17 years of age, but there are families that still do not know that they can also receive money for their college-age children and it is that a one-time payment of $ 500 for families with young people between 18 and 24 years old.

Of course, the IRS has laid down some eligibility conditions such as that: the child must be claimed as a dependent, the child between the ages of 19-24 must attend college full time, and the child must have a social security number.

When will I receive this money for my college child?

To qualify for this aid, the same income parameters associated with the Child Tax Credit apply, since those who win qualify $ 75,000 or less for singles, $ 112,500 or less for heads of household and $ 150,000 or less for married couples. If a person more than this amount, he can also receive the aid, although to a lesser extent.

This payment, unlike any other Child Tax Credit checks, will not arrive in advance. This money will come after families file their taxes early next year, he said. The Sun.

How to claim my check?

The IRS has specified that payments are issued automatically to all families who qualify for assistance based on the information they have provided to the agency on their 2019 or 2020 tax returns, so they do not need to do anything to receive your check.

However, people who do not usually file taxes and who are not registered in the IRS database should use the tool Non-filer Sign-up to claim help.

IRS catches up on late payments

The IRS also clarified that in this third round they will be catching 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. When will the next checks for families arrive?