Another round of Child Tax Credit will be coming to the bank accounts or emails of those eligible on Oct. 15. Below, you can find who is eligible for the fourth of six Child Tax Credit checks this year. The two final checks will arrive later.
Families That Are Eligible
The fourth Child Tax Credit check will be received by eligible families in about two weeks. Parents of children younger than 17 are reportedly eligible recipients for this stimulus check.
These payments are part of the American Rescue Plan that President Joe Biden signed in March. Half of the Child Tax Credit payments were given in July and will run until December. The other half will be given during the filing of the 2022 taxes.
According to a report in BGR, for every child in a household, a family will get a child tax credit of $3,600.
The payment is $3,000 for each child between ages six and 17. Half of those amounts will come next year as a normal tax credit, come tax time. While the remaining amounts ($1,800 and $1,500, respectively), are what’s being split across the six checks through December, the report said.
This means, for each eligible child, a family will get either $250 or $300 with their next child tax credit payment, as normal.
Other Two Payments
For those eligible, after the check on Oct. 15, two more child tax credit payments will be coming. One on Nov. 15, and the sixth and final payment on Dec. 15.
The Internal Revenue Service (IRS) will be sending out a letter by year-end, with details on your child tax credit payments that you must keep safe. You will need this letter for 2022 when you file your federal income taxes.
Do You Need To Do Anything To Get It?
People who are eligible for this payment need no do anything to get it. The IRS will send the payment to whatever destination it has on file for you. If the tax agency has your bank details, then it will be direct-deposited.
Otherwise, the agency will send it in the mail as a paper check. Those receiving paper checks will have to be a bit more patient because the money will most likely come a little later than Oct. 15.
