MILLIONS of American families experienced delays in receiving their second $ 300 for the child tax credit advance payment made on August 13, while others received the wrong amount.
Due to a technical glitch, the IRS has warned that up to four million families who received the first July child tax credit payment by direct debit will receive a check for this month’s cash. .
These families can check through the IRS online portal to see if their check has been issued and should allow several days for it to arrive in the mail.
If the online portal does not show that a check is mailed but families still think they are eligible, they should update their records to make sure the IRS has the most accurate information. and the most recent.
The IRS may have issued checks to an old address if families did not correctly update the information as it operates from the data compiled through to 2019 and 2020 tax returns.
The IRS released an Address Update Tool on Friday to ensure families can receive faster payments.
In a statement released Friday, the Internal Revenue Service said its new feature will allow families receiving their credit by mail to “quickly and easily update their mailing address using the Credit Update Portal. child tax, available exclusively on IRS.gov “.
The new functionality is aimed at avoiding mailing delays for families who choose to receive their payments by paper check.
Families should also record any changes to their circumstances since their last tax return, as this means they may now be eligible for monthly payments or may receive the wrong amounts.
This could include a new baby or an adopted dependent who has been part of your family since filing the 2020 income tax returns, which means you should now be entitled to more money.
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If the family typically does not file tax and has not done so for 2019 or 2020, they are encouraged to use the IRS Non-Filer Tool to properly record their information.
If you have verified that your family is eligible for Child Tax Credit payments but still have not received the payment, you may need to produce a payment record.
You must complete Form 3911 and mail or fax it to the IRS.
This step should only be undertaken if at least five days have passed since the scheduled deposit date or four weeks since payment was indicated as sent by check.
Any changes to the information on file must be made by August 30 so that families receive the next September payment on time.
The online portal also offers the option to decline monthly payments.
This means that families will receive the remaining credit as a lump sum when they file taxes for that year.
The tax credits – included in the $ 1.9 trillion US bailout package enacted by President Joe Biden in March – were intended to provide families with up to $ 3,600 per child over the course of a year.
The first semester, which began in July, was made in the form of direct monthly payments of up to $ 300 for the remainder of 2021.
The other half can then be claimed when filing for 2021 taxes.
Any change to a person’s mailing address using the child tax credit Update the portal will remain for all future IRS correspondence.
Later this year, the IRS plans to add features to the portal that will allow users to easily add and remove children, as well as change their marital status and income levels.