Child tax credit scale: last installment to come on December 15

Tthe last payment for Child tax credit scale in the United States will be paid on Wednesday, December 15, 2021 with the announcement that beneficiaries could receive an additional $ 1,800 per child.

For those who receive their payments by direct deposit, they will have it by the 15th at the latest.

Now that the payments are drawing to a close, the government plans to extend the enhanced child tax credit payments.

How much will I receive in 2022 from the child tax credit?

If you received each payment between July and December 2021, you could receive up to $ 1,800 per child aged 5 and under.

For children aged 6 to 17, this amount could be 3,600 euros.

On top of that, if you’ve missed payments in the meantime due to errors or unsubscribing, they should be paid in your tax refund.

Will the payments expand?

Congress is currently debating whether or not to extend child tax credit payments beyond spring 2022.

House Democrats on November 19, 2021 passed a $ 1.75 trillion “Build Back Better” program that extends the child tax credit by one year.

It is highly unlikely that a decision will be made by Congress before 2022.

Where is my payment?

It’s possible that if you haven’t received a payment in the past due to IRS errors or outdated information, the payment will arrive in December.

Otherwise, you can request a payment record from the IRS or track your check to see if it’s on its way.

In case you’ve had a child since your last tax date, the IRS won’t have your information up to date, so you won’t receive any money until you file your taxes next year.

Will these payments affect next year’s taxes?

Child tax credit payments can affect your taxes in a number of ways:

  • You were overpaid and the IRS did not adjust subsequent payments, so you will need to reimburse it
  • If you received payments that were not owed to you, you will need to reimburse the IRS
  • Failure to notify the IRS of your new income will change your tax depending on whether your income has increased or decreased.
  • Withdrawing from payments this year may increase payments next year
  • Receiving money for children who turn 18 at the end of 2021 will have to be reimbursed