WASHINGTON, D.C. (WKRC) - For the first time in more than half a year, millions of Americans did not receive a child tax credit payment this month.
While there's no reason to believe a fourth round of stimulus checks will be approved, or that the credit checks will be extended any time soon, families can still benefit from them.
President Biden's American Rescue Plan increased what was a maximum amount of $2,000 per child tax credit payment up to $3,600. The first half was delivered in monthly installments between July and December of 2021, and the second will be delivered in the form of a credit that can be used on tax returns.
After West Virginia Democratic Senator Joe Manchin refused to vote in favor of expanding the payments, on Jan. 15, the credit program reverted back to what it was prior to the president's changes.
However, that doesn't mean the end of child tax credit payments altogether. The maximum amount per payment was simply reduced back down to $2,000.
It is worth noting that the money will be delivered all at once as a tax credit that will lower your overall tax obligation, rather than a spendable monthly check.
The IRS is currently in the process of notifying the recipients, so make sure to watch for the letter in your mailbox, and make sure the details on it match what you put down on your federal tax return for 2022.
You will also still be able to claim the second half of the original credit payments from last year in your tax return.
Families who did not sign up for the first round of credits are still eligible to receive up to $2,000 per child.