The final payment for the advanced child tax credits is set to go out Dec. 15, 2021.
Congress is still debating whether they will continue the program into 2022 in the meantime.
Families who use direct deposit to receive their payments will see the money on Dec. 15. Those who get checks can expect the check by the end of Dec.
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The second part of your 2022 child tax credit can be claimed in April of 2022 when you file your taxes.
If you opted out of the payments before they began, you will get all of the child tax credit you are owed.
This means some parents may get as much as $3,600.
Any payments you opted out of later on you may see in 2022 as well.
This means if you were entitled to two months of full $300 payments and you opted out, you’ll be getting those when you claim the child tax credit in 2022.
The deadline to opt in or out of payments has passed for 2021.
What if I’m missing a payment?
There have been some minor issues during the disbursement of payments over the last few months, so there are steps to take if you don’t get the last payment.
You can login to the online portal through the IRS to check your eligibility and enrollment status.
There is a link that will ask you questions starting with if you claimed your credit on the 2020 tax return and if you plan to for 2021.
If you answer no then you do not qualify for payments.
There is currently limited live assistance when it comes to getting help with your taxes.
The backlog of stimulus checks and unemployment tax refunds has taken up a lot of time from the IRS.
The number for all tax related questions is 800-829-1040.
You may also find an answer you’re looking for on the IRS’ FAQ page.
Whether the expansion and payments will extend into 2022 is still unclear.
Be sure to file taxes if you do not normally file and are entitled to the child tax credit.
This way you can ensure you’re enrolled to receive the payments you missed out on in 2022.
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