There’s a good chance you’ll have to wait until 2022 if you haven’t enrolled in the IRS’s advance child tax credit program. Nevertheless, some families could receive up to $7,200 in child tax credits next year.
Children who have not yet signed up for the child tax credit will not receive payments until 2022 (with few exceptions), according to officials.
Through the end of the year, the American Rescue Plan gives $300 to each child under the age of 6, and $250 to each child between the ages of 6 and 17. As a result of the increase in the children’s tax credit advance program, the tax credit was increased from $2,000 to $3,600.
As a result of the delay, some families who didn’t sign up for the tax credit in 2021 but will be eligible for an additional $7,200 per child in 2022. There are only two more payments in 2021 as the November deadline approaches.
Read More: Stimulus Update: Reason Behind October Child Tax Credit Payment Delay
Receivers Of Child Tax Credits Are Left In The Dark By The IRS
Some people wonder when they will get their child tax credit payments wonder when the advance payments will arrive. Together, the Biden Administration and the IRS have vowed to reduce backlogs, but can that be accomplished?
“I have not received any child tax credit payments and I’m trying to figure out why,” Patricia Bryant, a Pennsylvania resident affirmed.
“I have not received a letter or email – and calling the IRS hasn’t gotten me very far.”
Another American, Remmy Geranzo, also gave a related story
“My payments have been all over the place,” she said.
“I have two kids, they’re the same age. You wouldn’t think it’d be that complicated but it has been an exceptional headache.”
Geranzo narrated that she got two payments accurately in July and August. Fast forward to September, her payment went missing, and the payment that came in October was not the right figures paid.
“It’s not like I suddenly had one less child in October. Both of my kids are 12. Not even close to being ineligible,” she added.
Scams Living Off On Child Tax Credit Payments
People awaiting child tax credit payments should be cautious when receiving letters or emails.
There have been reports of thousands of people receiving letters claiming stimulus money or child tax credits had been paid in error and need to be returned. Don’t believe such emails if you receive one. Before responding, check with the IRS.
“A couple of months ago a few clients started reporting that a letter had been sent, which appeared to be from the IRS,” Allen Smith, a tax specialist said.
“They started coming out over the summer. It was a scam letter. Someone did a pretty good job of replicating the address section of the letter. But the font was a little shaky and the wording was off.”
The tax experts were told by a few tax professionals that the letter would contain a specific amount, but they didn’t receive any.
“The IRS isn’t going to ask for an undisclosed amount of money. If it’s an official action from the IRS – the details will be laid out very clearly, and can be confirmed by phone,” Smith later said.
To conclude: If you receive a letter claiming that you are overpaying on your child tax credit, you should verify it before you respond. A simple phone call to IRS will clarify everything.
In the Coming Future, Child Tax Credits Will Be Paid
Whenever you receive a child tax credit payment, consider it a new one. In some months, payments have been received by some people, while in others they have not. IRS officials say this is due to a lack of staff and an overburdened IRS.
Ultimately, Smith says it is a matter of patience, remembering anyone who is owed tax credits next year can still apply for them.
Although the answer may not be what many want to hear – especially those suffering from the Coronavirus pandemic – it’s at least a guarantee that funds will arrive somehow.
“There’s a perfectly reasonable chance that even if you did not receive last month’s child tax credit – the next one will come through,” he explained.
“Similarly, if you didn’t receive any of those thus far – if you update your information and the IRS is able to process that update – then your payment may come in November.”
Currently, no transparency exists on how the proceedings of child tax credits payment are handled by IRS.
“Are they being processed in chronological order? Are they being processed in batches? We really don’t know the answer to that question,” Smith went on.
“It’s fair to assume that they’d be processed by different groups of employees depending on the individual filers’ situation.”
More so, there are also different types of IRS employees. Like every large organization has different departments that handle different tasks. The payments of the child tax credit and tax returns are among the items that fall into the same category.
Read More: Real Reason Why Your Child Tax Credit Check is Smaller Than Expectations
Thinking About IRS Making Random Child tax Credit Payments?
Keeping an eye on your bank account has become increasingly important due to the reasons outlined over the past several months.
Nevertheless, payments will most likely be made on no dates other than the 15th of every month, when most Americans will also receive their checks from the IRS.
You may lose one or more payments at any time if you are owed one or more. In the spring, when individuals file personal income taxes, it is important to track all of the deposits carefully and watch for the codes associated with them.
For the latest updates, make sure you check the IRS’ website at www.irs.gov