One group of people that were unable to cash in on stimulus checks this year were new parents.
The IRS sent these checks to parents with children reported on their 2020 tax returns.
This means if you had a child in 2021, the IRS probably didn’t know to send you a stimulus check.
Not only are parents eligible for the $1,400 stimulus check they missed out on, but they’re eligible for the $3,600 dollar child tax credit they may have missed out on too.
How do parents qualify and get these payments?
The income requirements are under $75,000 for single filers, $112,500 for head of household, and $150,000 for married couples that file jointly.
When you file your taxes in 2022 there will be a new spot for missed payments from the third round of federal stimulus checks.
The advanced child tax credit payments are ending Dec. 15, and those that filed at the last minute will see a lump sum of up to $1,800.
Many are missing out because the IRS is unaware that these families qualify.
That’s okay, because families can claim the full credit when they file their taxes next year.
Parents can see $3,600 per child under age 6 and $3,000 per child ages 6-17 in all.
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