Child tax deduction: who gets a big December check?


(Photo: Getty Images)

(WJW) – There are only two child tax credits left.

The next date is November 15th for those who have signed up, after which the final payment will be made on December 15th.

It’s not too late to sign up, but you have to do it soon.

See if you are eligible.

The deadline for registration is November 15th. However, if you haven’t signed up yet, you’re getting a big boost.

Payments were spread out over six months, with some transferred monthly, which is roughly $ 300 per child. Those who have not previously signed up can receive payments in one large check.

How to log in.

As part of the U.S. rescue plan passed in March, the existing tax credit, a 2021 tax return prepayment program for eligible individuals, was increased from $ 2,000 per child to $ 3,600 per child under 6, with $ 3,000 for children 6-16 years old. Eligible families can receive a monthly payment of up to $ 300 per child.

If you are filing your 2021 tax return in 2022, you will need to report the amount of monthly child tax credits you received in 2021.

Anyone who has signed up for any period will receive a letter from the IRS in January with the amounts to be reported.

If you’d like to unsubscribe for November and December, the deadline is November 11th.

How to sign out.

The status of the 2022 child tax credit is currently pending.

If the House and Senate pass the $ 1.75 trillion reconciliation bill, child tax breaks would be extended for another year.

According to the US Treasury Department, the program is expected to reduce child poverty by more than half.


Comments are closed.