Congress is working on passing the Build Back Better bill in 2022. It could result in multiple child tax credit payments.
The last payment went out Dec. 15, 2021.
There’s still hope for the expanded payments to be extended if the bill passes under the Biden administration.
The first half of the tax credit was sent to families ahead of the 2022 tax season.
When families file their 2021 tax return they can claim the second half of their tax credit.
President Biden originally wanted to extend the expansion to 2025, but eventually settled for one more year.
In order for parents to have gotten the payment in Jan. 2022, the bill needed to pass by Dec. 28.
This did not happen, so families are hoping it can pass in 2022.
If the bill passes by Feb., then parents may be able to get a double payment that will make up for the missed Jan. payment.
Anyone that opted out or doesn’t register in January or February if the bill passes could potentially register by March and receive the past missed payments.
This means some families may see a payment of $900 in March, making it three payments at once.