Many will receive the fourth corona stimulus check of up to $1,800 before Christmas

People have been waiting for a fourth stimulus check for a long time, but it seems unlikely Congress will send more direct payments. However, some families can get lucky and get a fourth coronavirus stimulus check just in time for Christmas. This stimulus check will be different from the three stimulus checks sent by Congress so far, but rather will be part of the expanded child tax credit program.

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Fourth Coronavirus Stimulus Check: How Can You Get It?

Biden’s American rescue plan Act, passed in March this year, expanded the child tax credit from the usual $2,000 to a maximum of $3,600. Under the new program, families with children under six are eligible to get up to $3,600 per year, while children ages 6 to 17 can get up to $3,000.

The program also changed the way families CTC payment. Prior to the American Rescue Plan Act, families received the CTC payment after filing their tax returns. For 2021, however, eligible families will receive half of the credit upfront in the form of six monthly installments (July to December), and the other half after filing their tax returns in 2022.

This means that eligible families get up to $300 per month for each child under six and $250 per month for each child aged 6 to 17. So far, the IRS has sent out five monthly child tax credit installments and will send the final payment next month.

Most families who qualify for the child tax credit will automatically receive payment based on their 2020 tax return. Families who normally do not file a return tax returns, or not being required to file a return due to low income, had to sign up with the IRS tool to get the payment.

Such families had until November 15 to apply for payment of the child discount. Once applied, these families would be eligible for a fourth coronavirus incentive check of up to $1,800 (up to $1,500 per child over the age of six) before the end of the year.

What if I missed the November 15 deadline?

According to the IRS, families who apply before Nov. 15 would get half of their full child tax credit at once by Dec. 15.

“This is the same total amount that most other families received in up to six monthly payments that started in July,” the IRS says. say.

The November 15 deadline has already passed. If you believe you qualify for the child discount but did not meet the November 15th deadline, don’t worry, as you will still get the extended CTC payment. But instead of a lump sum payment before the end of the year, you will receive the benefit the following year after you have declared it.

Separately, families already receiving monthly payments have until November 29 to update their account information, if needed. They must use the Child Tax Credit Update Portal (CTC-UP) to update their account information.

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