The next child tax payment is arriving a little earlier this month. The IRS usually sends out checks on the 15th of every month but because August 15 is a Sunday, it is delivering the money a little earlier.
Child Tax Credit
The second child tax credit payment out of six will be paid out this month. Eligible families should expect the other four checks to arrive on the 15th of September, October, November, and December.
The Child Tax Credit will be providing $3,600 in total for families with children under six years old and a total of $3,000 for families with older children. The distribution plan is set up that half of the total money is delivered as recurring monthly payments. The second half of the money, approximately $1,800 or $1,500, would be paid in one lump sum in 2022.
Overnight, the 2nd monthly deposit of the #BidenChildTaxCredit hit the accounts of more than 30 million families.
— Nancy Pelosi (@TeamPelosi) August 13, 2021
Eligible families who got neither the July nor August payment can find more info here to ensure that they start to receive this benefit. https://t.co/EzAssrj1zi
Read also: $3600 Child Tax Credit Timeline: How Much You'll Receive Per Month, Online Calculator, and More
Do I Qualify For Child Tax Credit? How to Check Eligibility Online
The IRS offers several online portals and tools to help families with tracking, and receiving the child tax credit money, CNet reported.
The Advance Child Tax Credit Eligibility Assistant offered by the IRS is exactly what its names suggest, a checker to see if you and your family might be eligible for advance payments of the child tax credit. You will need your tax return filed for 2020, or your 2019 tax return if you haven't filed for 2020. You can also use your income statements such as W-2s and 1099s or the amount of any expenses or adjustments to your income to estimate the total income from your tax return to answer all the questions, the IRS said.
The Child Tax Credit Update Portal makes it easy for families to check if they are enrolled to receive advance payments. They can also unenroll to stop receiving said advance payments. Should any information be updated, like your bank account info for monthly payments, it can also be updated through the portal. To access the portal, you need to have your IRS username or ID.me account. If you don't have an existing IRS username or ID.me account, you need to have your photo identification ready, said the IRS.
For non-filers who want to report their qualifying children born before 2021, the Child Tax Credit Non-filer Sign-up Tool is set up to help non-filers provide the IRS with the necessary information. The IRS will automatically determine their eligibility and advance payments will be issued based on the information given by the non-filer.
All you will need is your full name, current mailing address, e-mail address date of birth, valid Social Security numbers for you and your dependents (other taxpayer IDs are also accepted), bank account number, and the IP PIN or Identity Protection Personal Identification Number provided by the IRS earlier this year if you have one.
These portals are especially helpful for families without permanent addresses. If you know any families who do not have a permanent address yet, share this article with them so they can still receive the payments they're eligible for.
