Monthly child tax credit checks started on July 15, 2021. But between federal tax refund delays, stimulus checks and unemployment benefits ending, the tax agency's hands are full. In fact, at least 4 million families have had their child tax credit payments delayed due to an IRS glitch that resulted in paper checks being mailed instead of a bank direct deposit.
Issues with missing payments have also been reported among other problems. Delays also occurs if your 2020 tax return is still being processed. The IRS is backlogged!
If you're checking your bank account statements for deposits, look for "CHILDCTC".
How Can I Check My Child Tax Credit Check Status?
According to the IRS, you can use the Child Tax Credit Portal to see processed and pending payments.
To check on your payments and history online, you'll need to register an account with your IRS username on ID.me. What is ID.me is an online tool used by the IRS, the Department of Treasury, the Social Security Administration and other government agencies to verify identification. First-time users will need to have a photo ID to verify and protect your information from identity theft. ID.me requires a couple layers of identity verification when setting up an account. Have your social security number handy, a photo ID - such as a driver's license or passport - and a phone or computer with camera.
The guidance from the Internal Revenue Service (IRS) is very clear when it comes to explaining who qualifies for these advance payments. To be eligible, you must:
Have filed a 2019 or 2020 tax return or given information via the Non-Filers: Enter Payment Info Here tool or Non-Filer: Submit Your Information tool
Have lived in a main home in the United States for more than half the year or filed a joint return with a spouse who has a main home in the United States for more than half the year
Have a qualifying child who is under age 18 at the end of 2021 and who has a valid social security number
Have made less than certain income limits
Some families may choose opt-out to avoid repaying the IRS due to complicated tax situations. Even if you do meet all of these eligibility criteria, it is still possible to opt-out of these advance payments in order to receive all of the child tax credit money as one lump sum in 2022.
2021/2022 Child Tax Credit Payment Schedule
July 15: Up to 300 dollars or 250 dollars, depending on age of child
August 15: Up to 300 dollars or 250 dollars, depending on age of child
September 15: Up to 300 dollars or 250 dollars, depending on age of child
October 15: Up to 300 dollars or 250 dollars, depending on age of child
November 15: Up to 300 dollars or 250 dollars, depending on age of child
December 15: Up to 300 dollars or 250 dollars, depending on age of child
If you want to stop payments of the tax credit, you have to opt-out using the IRS's online tool BEFORE the monthly deadline. It could take the IRS up to 7 calendar days to process your unenrollment request, so don't forget to check back for a status update.
Opt-Out Deadlines For Monthly Child Tax Credit Payments
July 15, 2021 - Payment June 28, 2021
August 13, 2021 - Payment August 2, 2021
September 15, 2021 - Payment August 30, 2021
October 4, 2021 - Payment Date October 15
November 1, 2021 - Payment Date November 15
November 29, 2021 - Payment Date December 15
Not everyone will want to receive half their child tax credit in monthly payments this year. For example, if you don't need the money this year, you may be better off taking the full credit on your 2021 tax return to lower next year's tax bill or increase the amount of your tax refund.
Will There Be Monthly Child Tax Credit Payments Next Year?
As it stands right now, the monthly child tax credit payments will end this year. However, President Biden and many Democrats in Congress want to continue the payments beyond 2021. President Biden proposes in the American Families Plan for extending this tax relief for years and years. Visit the official White House Child Tax Credit page to keep up on pending and current information. (Spanish version of the White House Tax Credit - Click Here).