Parents struggling financially may qualify for one final boost in their last child tax credit payment next month.
Under the American Rescue Act, President Joe Biden expanded the child tax credits, boosting the maximum refundable amount to $3,600.
He also made it so parents could get an advance on the first half of their payment, up to $1,800 for children under age 6 and up to $1,500 per child ages 6-17.
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These payments were issued over the span of six months in the amount of up to $250 and up to $300 dollars depending on the child’s age.
There is one last payment next month, and there may be a chance to get an increase if you qualify.
To get the boost, you must be a parent that lost their job in 2021 or be part of a household that saw a dramatic salary decrease.
Update your financial status in the IRS portal to let the IRS know before December checks are sent out.
Related: 35 million families will lose child tax credit payments in three weeks, Americans call for $2,000 stimulus check
If parents are already receiving the highest amount they will not be eligible for an increased payment.
This means if you’re getting the full $300 or $250 you will not qualify.
To apply for this booster you can do so before the cutoff Nov. 29.
The deadline has passed for anyone that did not sign up for the payments despite qualifying.
Related: Parents be warned, you may need to pay back all child tax credit payments depending on your child’s birthday
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