Issues with your July child tax credit payment? Here’s what to know



The first child tax credit payment has already arrived for millions of eligible US families and the second check isn’t far behind. But some still haven’t received their check for up to $300 per kid. The IRS disbursed the payments July 15 but there were a few bumps with the rollout. Some families might still have concerns about eligibility or income requirements, and others are reporting issues with missing checks or inaccurate totals.

A potential problem is that the IRS is relying on your most recent tax return on file to determine the payment amount. That could cause an issue if your family didn’t submit tax information to the IRS or if the tax information is now outdated. It could also be simply that the IRS doesn’t have your correct banking information for a direct deposit. If that’s the case, we can show you how to fix it before Aug. 2 by using the IRS portals.

The IRS Update Portal will also allow you to check your payment history, verify eligibility and unenroll from monthly checks if you’re worried about owing the IRS money in 2022. And heads up: You may need to create an ID.me account to use the portal (if you haven’t already). Keep reading for answers to common child tax credit payment problems. We update this story frequently.

My family is eligible for the child tax credit, but I haven’t received any money. Why?

If you qualify for the enhanced credit but haven’t received your payment, there could be a number of reasons why. If you filed your taxes, check the Update Portal to see if payment is coming by mail. If so, give it several business days to arrive. If you have direct deposit set up, make sure all the information is accurate. Note: If you didn’t set up your banking details before June 28, you should expect the July payment to come as a paper check.

If everything looks correct but you still didn’t get a payment, you may need to file a payment trace with the IRS. To do that, you’ll need to complete Form 3911 (PDF) and mail it to the IRS. Only do this if it’s been at least five days since the scheduled deposit date of July 15, or four weeks since the payment was mailed by check.

I didn’t file a tax return, but my family qualifies for the payments. What should I do?

The IRS is using your 2019 or 2020 tax return to determine child tax credit eligibility. If you didn’t file taxes, you may still be eligible for advance payments — you’ll just have to complete an extra step. You can use the IRS nonfiler portal to register for future payments. If not, the IRS may not have the most updated information, especially if you’ve had a child since then. It’s best to sign up as soon as possible to start getting payments if you qualify…Read more>>

Source:-cnet 

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