Photo: SAUL LOEB / AFP / Getty Images
This Wednesday, September 15, the Internal Revenue Service (IRS) will release the payments corresponding to the third monthly installment of money under the Biden Administration’s “Child Tax Credit” (CTC).
Since July 15, the agency has been sending checks to families in the United States under the program thatdeposit 50% of the amount per household and increases the eligible retail amount.
The third law of stimulus provides up to $ 300 per month for each child under the age of 6 and up to $ 250 per month for each child ages 6 to 17. “Typically, anyone who receives a payment this month will also receive a payment each month for the remainder of 2021 unless they cancel their enrollment. In addition to the July 15 payment, payment dates are: August 13, September 15, October 15, November 15 and December 15 ”, specified the IRS in one of its communications.
According to the IRS, most of the payments under the provision approved last March as part of the “American Bailout Plan”, or 86%, is processed by direct deposit and the rest by check by post.
If you did not automatically receive the first two payments, but are eligible, you had to submit your personal information to the IRS on or before August 30 to receive this month’s money.
The former is the case of households that are not required to file low income taxes.
“The IRS urged people who are not normally required to file a tax return to explore the tools available on IRS.gov. These tools can help determine eligibility for the Child Tax Credit in advance or help people file a simplified tax return to sign up for these payments, as well as the Economic Impact Payments and other credits they can receive. ” the entity on its website.
Non-filer Sign-up for low-income families who are not required to file taxes
One of the main tools is “Non-filer Sign-up”. The service allows the user to report the CTC-qualified minors who were born before 2021.
It should be noted that, to qualify, the minor must have a Social Security number, and the parents with at least one Personal Taxpayer Identification Number (ITIN).
In addition to the number of children in the household and their ages, the IRS and the Treasury Department examine the family’s income to determine eligibility and total amount to be paid.
Families generating up to $ 150,000 or less in the case of couples, or $ 112,500 or less in the case of a single parent family (also called the head of household) are eligible for payments.
Eddie is an Australian news reporter with over 9 years in the industry and has published on Forbes and tech crunch.