The final child tax credit payment went out to Americans was just sent last week, but if anyone is still owed stimulus checks, they’ll see those next year.
Many families may see a check worth up to $1,400 as they celebrate bringing in a new year.
Stimulus checks were sent out under President Joe Biden’s American Rescue Plan.
Related: 11 states are sending stimulus payments to Americans ahead of Christmas, is one yours?
People have called on Congress seeking out a fourth check, but that doesn’t look like a possibility.
While a fourth check doesn’t seem likely, many Americans still haven’t received their third stimulus check.
These families may see that stimulus payment in early 2022 while the IRS ties up those loose ends.
The next group of stimulus checks are set to be sent out when taxpayers file their 2021 taxes next year.
Related: Saver’s credit could give you a $2,000 free tax break in 2022
Eligible Americans include new parents who had a child in 2021. They’ll need to claim the check on their taxes.
Due to the third round of checks being based on 2020 tax returns, the IRS would be unaware of parents with newborns in 2021.
By claiming the child on your 2021 taxes for the first time, the IRS can then send you that stimulus check.
Parents will need to qualify with the same income requirements: under $75,000 for 2021 for single filers and under $150,000 for married filing jointly.
Related: $3,000 stimulus checks going out before Christmas, do you qualify?
Higher incomes will start to phase out the check, until they cannot claim it. This happens at $80,000 for single filers and $160,000 for married filers.
The IRS won’t know how many people are still owed stimulus checks until next year, but it’s expected to be millions.
In 2019 there were 3.75 million births and in 2020 there were 3.61 million.
Related: One Senator opposing Build Back Better plan could permanently end child tax credit payments
2022 taxes for new parents
Not only can parents claim the stimulus checks they missed out on, but they can also claim the child tax credit.
If their income lets them qualify, they’ll see $3,600 for a newborn. This means if someone had twins in 2021 and meets the income requirement, they’ll see $7,200.
These payments will be a part of your tax refund.
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