When will the child tax credit payments begin? Here are the dates to know



The IRS will start sending child tax credit payments on July 15 by mail or direct deposit to those who qualify. To get the monthly payments, your family must have eligible dependents. You can get a total of $3,600 per child over the course of this year and next. We’ll tell you when the payments are scheduled to arrive, but be aware there will be a gap between the last check in December 2021 and the final payment in 2022.

There will also be two IRS portals that will be available for you before July 1 to use to update your information — for instance, your income, number of children and their ages. One of those portals will also make it possible to opt out of monthly payments if you prefer to get one check for the total amount of the credit. We’ll also spell out eligibility for people who have 2021 newborns or who have shared child custody.

Wondering how you’ll use your child tax credit money? We have some ideas. You might also be interested in learning how to claim up to $16,000 in child care expenses or how you should expect to receive your payments. For other money matters, here’s some of what’s happening with a potential fourth stimulus check and how to file an IRS payment trace if your stimulus check or plus-up payment didn’t arrive. This story has been updated recently.

When will my first (and final) child tax credit payment be sent?
The first child tax credit payments will start to arrive July 15. (Make sure you understand the income limits for eligible households.) The first six payments will arrive monthly, targeting the same day of the month — though you may not receive the payment on the exact same day every month, especially if you get a paper check instead of a direct deposit payment.

If the child tax credit payment date falls on a holiday or weekend — for example, Aug. 15 is a Sunday — it’s likely the payment will go out the following Monday. The checks will end in December, with your final sum coming next year. Here’s a rough schedule, and here’s how to calculate your check amountRead more>>

Source:-cnet 

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