Some Americans struggling may be able to get $1,800 before 2021 ends due to expanded child tax credit payments.
36 million families were able to get cash earlier last week. This helped them recover from the financial hardships caused by the pandemic.
The expanded child tax credit was created under President Joe Biden’s American Rescue Plan. It divided the first half of the $3,000-$3,600 tax credit in half so families could benefit from it in 2021. 6 payments in all are planned, with just one left for December.
Unfortunately, not all families that qualify have taken advantage of the payments.
Out of all eligible families, one out of ten has not received a payment.
Families with children under age 6 can get $300 per child per month, and families with children ages 6-17 can get $250 per child per month.
Payments began in July and the last one is set for Dec. 15.
If you did not choose to claim the credits by now, you’ll need to wait to file your taxes next year.
The deadline for the GetCTC.org tool ended Nov. 15.
If you file next tax season and you were entitled to the payments this year, you will see thousands next year.
Some families waited until Nov. 15 to sign up after not getting the payments at all, and they can expect a lump sum of up to $1,800 Dec. 15.
Everyone that collected the first half of their child tax credit can expect the second half when they file their taxes in 2022.
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