American families that miss out on the stimulus check, the Internal Revenue Service is due to pay before Christmas, could look forward to another payment round in April 2022.
The $1,800 payment will be received if certain eligibility conditions are met. The final amount is due in April 2022, when parents file their tax returns.
After paying their taxes, new parents will be eligible for a second stimulus payment in 2022, with new parents getting an additional $1,400.
The stimulus payment is available to single parents earning up to $75,000 per year and couples earning up to $150,000 per year. On Nov. 15 and Dec. 15, people received the final batches of Child Tax Credit (CTC) payments for the year.
After filing their tax returns, parents who have been receiving $250 should be entitled to a payout of $1,500. There is also an option to forego the first half payments this year and get the money in a lump sum in 2022.
Families who have children under the age of six are entitled to $3,000 while those with dependents between the ages of 18 to 24 years are eligible for a maximum of $500 in Child Tax Credit.
The IRS will require banking information in order to process and send the checks to eligible families.