There are thousands of Americans struggling financially who may be able to get up to $3,600 in child tax credits next year.
Child tax credit payments ended for 2021 after families were able to use that to lift themselves out of poverty.
Those who received payments saw 6 monthly payments from July through December of up to $1,800. This amounted to the first half of 2022’s expanded child tax credit.
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Some families decided to opt out of the program before receiving the first payment. This made it so they could collect the full amount of up to $3,600 all at once.
Parents will get $3,600 for children ages 5 and under or $3,000 for children ages 6 to 17.
Anyone that had a newborn child in December of 2021 will see $3,600 as well.
This means if you have a baby before midnight on Dec. 31 you will qualify.
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Child tax credit payments in 2022
Unfortunately the Build Back Better bill has not been passed, and for child tax credit payments to continue it needs to be passed by Dec. 28.
The IRS cannot get checks to families by Jan. 15, 2022 if it is not passed by that date.
When Senator Joe Manchin said he would not vote for President Joe Biden’s plan, it eliminated the possibility of it passing at that time.
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If it does manage to pass next year, then the child tax credit expansion will continue for one more year.
The White House shared that they would work closely with the Treasury Department to double Feb.’s payment if the bill passed to make up for Jan.
The final payment of the 2021 advanced child tax credit payments went out Dec. 15.
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