Millions of families in the United States will receive their last Child Tax Credit payment of the year on December 15.
If you have opted for direct deposit, it should arrive by the end of the month via mail.
Since July, the government has been sending out monthly payments. If you file your tax return in 2022, the second half of the Child Tax Credit payment will arrive after the December check has been received.
The enhanced Child Tax Credit payments may be extended beyond 2022 as part of ongoing discussions.
No confirmations have yet been made though.
Are You Aware of How Much You Will Receive in 2022?
For each child aged five and under, you may be eligible for up to $1,800 if you have been receiving Child Tax Credit payments monthly since July.
Furthermore, for each child between the ages of 6 and 17, you could receive up to $1,500.
In the case that you opt-out of the monthly payment plan, you will receive the full amount at once. The amount is up to $3,600 per child.
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If your tax refund includes any missed payments, either due to errors or because you unenrolled, these will also be included to the tax refund.
Future of the Child Tax Credit
The enhanced Child Tax Credit payments are currently being discussed in Congress regarding whether they should be extended beyond spring of 2022.
Democrats passed the Build Back Better program by a margin of 1.75 trillion dollars on November 19, 2021.
As a result of the enactment, the enhanced Child Tax Credit would continue for another year.