There are people who receive $300 instead of the regular $600 for October Child Tax Credit payments, and this is because these people are not regular tax filers.
The Child Tax Credit program can reduce the Federal tax you owe by $1,000 for each qualifying child under the age of 17.
Read more: Child Tax Credit: Updates in 2022
Important changes to the Child Tax Credit will help many families receive advance payments of the credit starting in summer 2021. The Internal Revenue Service (IRS) is supposed to pay half the total credit amount in advance monthly payments beginning July 15, 2021.
Eligible people will claim the other half when they file their 2021 income tax return, and these changes apply to tax year 2021 only.
A glitch in September left 2% of families without checks they were supposed to get. Many families express frustration because they depended on the checks to arrive as soon as possible.
Read more: Can the Child Tax Credit Be Extended Until 2025? Yes!
To qualify for advance payments of the Child Tax Credit, you (and your spouse, if you filed a joint return) must have:
- Filed a 2019 or 2020 tax return and claimed the Child Tax Credit on the return or
- Given us your information in 2020 to receive the Economic Impact Payment with the Non-Filers: Enter Payment Info Here tool or
- Given us your information in 2021 with the Non-Filer: Submit Your Information tool; and
Read more: Child Tax Credit & Stimulus Check Update: IRS Says Some of You Ows $3,600 Payments Issued By Them
- Lived in a main home in the United States for more than half the year (the 50 states and the District of Columbia) or filed a joint return with a spouse who has a main home in the United States for more than half the year; and
- A qualifying child who is under age 18 at the end of 2021 and who has a valid Social Security number; and
- Made less than certain income limits.
More information about Child Tax Credit can be accessed on the IRS website. The IRS does not have a line just for Child Tax Credits, so you’ll have to call their tax number at 800-829-1040 for tax inquiries.
Read more: Child Tax Credit Payments Now Being Received by Families – IRS
For more updates on Child Tax Credit, check out our other articles here at the East County Gazette.