Child tax credit payments are set to end Dec. 15, marking the final payment of the first half of the 2021 tax credit.
Once these advanced payments are finished being issued, the next payment isn’t until taxes are filed in 2022.
The payments started being sent by the IRS in July of 2021, and every month after on the 15th until Dec.
The debate on whether the expansion and advanced payments should be extended into 2022 is ongoing.
If the current version of the Build Back Better plan is passed by Congress they will be extended into 2022.
In order to qualify, couples filing jointly need to make under $150,000, head of household filers need to make less than $112,500, and singles need to make less than $75,000.
Who can get the $1,800 per child and how much will everyone else get?
Non-filers that had not yet collected payments and opted in by the Nov. 15 deadline will get a lump sum of $1,800 this month.
Those who did not file taxes in 2019 or 2020 needed to opt in themselves through the IRS or GetCTC.org.
If you missed the deadline, you need to wait to file taxes in 2022 to claim the credit.
Related: Will the IRS take my child tax credits if I owe back taxes, student loans, or child support?
This means non-filers will get the full credit they’re due Dec. 15, so if they have two children under age 5 they will see $3,600 now, and $3,600 when they file taxes next year.
This lump sum makes up for the previous 5 missed payments.
Everyone else who has been collecting all along will see the regular monthly payment they’ve been getting.
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