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

The US Sun
The US Sun
 2022-01-12
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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.

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.

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Comments / 234

Guest
01-12

My 2 kids are grown and on their own. I’m a disabled senior citizen. I get nothing! I guess I need to go have 10 illegitimate kids so I might get some of those handouts

Reply(36)
102
Marcia Dionne
01-12

I don't understand why parents with children are getting all these different stimulus checks it keeps them from going back to work to support their children and I've seen some parents don't even use it for their children they use it for their own needs which is unfair what about the people that are on SSI and social security what about us we worked all of our lives for what we get and here it's unfair that families are getting extra money that they shouldn't get some

Reply(34)
101
Angela Andrews
01-12

Let me guess ….. we have to have lots of kids right …… with different fathers right ….. and little to no income right ???

Reply(9)
56

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