The last date for child tax credit payments for US citizens is December 15, which will be the last for this year. The IRS reports that millions of families have benefited from the child tax credit payments applicable since July.
The eligible families might get stimulus checks worth $ 1800 per child below 5. The maximum amount for children in the age group of 6 to 17 years is $ 1500. The US Sun reports that families will receive benefits next year if the $ 1.75 trillion bill gets approval.
The families who have filed their tax returns for the next year are eligible. Couples with an annual income of $ 150,000 and single parents with a yearly income below hundred $ 112,500 will receive the plan’s maximum benefits. There is a significant difference between the amounts.
Non-Filers Are Also Among the Beneficiaries
Non-filers that apply for the benefits before November 15 will receive an amount of $ 1,800 for each child. Families that failed to sign up for the help before the deadline will receive a late payment next year after filing their tax returns. Those who did not receive the monthly installments will receive $ 3,600 for each child under six years of age. Families who signed up for the benefits during the last year will see the amount of $ 900 per child.
Families Will Receive Benefits as Per The CTC
After filing the tax returns, Family Ho has signed up for the tax credit payments will receive 50% of the amount. The child tax credit payments are likely to be the last as there is no update on its future status.
CNET reports that CTC benefits of this year will determine the amount for next year. The US sun quoted CNET’s statement that says, “If you received an overpayment and the IRS adjust the amount on later payments, or you received payments you did not qualify for.” The government is also providing other stimulus payments to Eligible families before Christmas. The government authorities also said that families with children below 13 can receive a surprising $ 8000. The beneficiaries can get the relevant information regarding the date and amount of their benefits on the official page of the government.