Millions of Americans could receive automatic $3,600 lump sum thanks to IRS tax credit… see if you qualify

MILLIONS of Americans could pocket up to $3,600 per kid when tax returns are filed this year.

Families that opted out of receiving advance child tax credit payments will pocket the amount in full in the coming months.

Most parents will have received six monthly payments worth up to $300 per child after the expanded program was rolled out in July.

President Biden temporarily expanded the amount from $2,000 to $3,600 last year.

Families with kids between the ages of six to 17 could receive up to $3,000 per child when they submit their tax returns.

Americans may have unsubscribed from advance checks because they wanted to receive the cash in one big payment so they could pay for a holiday or car.

Parents may also have been concerned that they might have to pay some of their money back.

The child tax credit was an early payment of the estimated cash for 2021, meaning it was heavily dependent on your 2020 or 2019 income and household size.

But, lawmakers did protect lower-income parents from potential overpayments.

No child tax credit payments are set to be issued imminently after Democratic senator Joe Manchin revealed he couldn't support the president's Build Back Better legislation.

Read our child tax credit live blog for the very latest news and updates...

But, White House officials are reportedly working on plans to help families.

Press Secretary Jen Psaki speculated that a larger check may be sent in February if families miss out on payments, according to BGR.

She said: “If we get it done in January, we’ve talked to Treasury officials and others about doing double payments in February as an option.”

Commentators say it could be more difficult to pass legislation through Congress in 2022 as it is an election year and Republicans may not have much incentive to give Biden any "wins".

Bosses at the Internal Revenue Service (IRS) have warned Americans not to throw away a letter that will help them receive their tax credits in full.

CHECK IT OUT

It is understood the letter will come in an envelope marked “Important Tax Document.”

The IRS says: "To help taxpayers reconcile and receive all the 2021 child tax credits to which they are entitled, the IRS started sending Letter 6419, 2021 advance CTC, in late December 2021 and will continue into January.

"This letter includes the total amount of advance child tax credit payments taxpayers received in 2021 and the number of qualifying children used to calculate the advance payments.

"People should keep this and any other IRS letters about advance child tax credit payments with their tax records."

Families who received advance payments are urged to compare the checks they received last year with the amount they can properly claim on their tax returns.

Parents can also access the tax credit update portal online via IRS.gov to access the information.