The final Child Tax Credit monthly payment of the year is scheduled to arrive for millions of families in the United States on December 15, unless you opted to receive it by direct deposit, in which case you should anticipate receiving it in the mail before the end of the month.
Since July, the monthly payments have been sent, and after you submit your tax return in 2022, the second half of the Child Tax Credit payment will be paid out.
There have been discussions about extending the higher Child Tax Credit payments beyond 2022, but nothing has been decided yet.
How much will I receive in 2022?
If you qualify, the government will give you up to $1,800 per child aged five and younger or up to $1,500 for each child aged six through 17.
However, if you decide to opt-out of the monthly payment plan, you will receive the whole amount at once, up to $3,600 per child. Any payments missed because of errors or because you decided to unenroll should be included in your tax refund.
Read More: Florida Sues Biden Administration Over Covid-19 Vaccine Mandate for Federal Contractors
Child Tax Credit future
In Congress, there are ongoing discussions about whether to continue paying enhanced Child Tax Credit benefits after the end of spring 2022.
On November 19, 2021, the House Democrats passed the $1.75 trillion Build Back Better program to extend the enhanced Child Tax Credit payments for another year.
However, this does not guarantee it will become a law; the Senate must now vote on the bill.
The Child Tax Credit enhanced payments are set to expire before the end of the year, but Congress is expected to reach an agreement on extending them through the end of the year.
