Millions of parents got their final Child Tax Credit today

Photo by Alexander Dummer on Unsplash

Today millions of parents are getting their final child tax credit it is issued to parents Wednesday but it may have already been pending in your bank account.

For those parents that meet financial qualification and whose children are no older than age 17 years old at any point this year. Most of you your payment is already in your bank account pending through direct deposit.

For everyone else who qualifies you will get your last payment in the form of a paper check.

For some of you this December payment will be bigger than normal. The IRS says that’s because it may include a payment or two you have been missing.

Also even if you are missing a payment that doesn’t mean you are automatically going to get it all together in this December payment. You may have to instead claim those missing payments or payment on your 2021 tax return after you receive letter 6419 in early January.

This is the last monthly child tax credit because these monthly payments were a result of the American Rescue Stimulus Package that was passed by congress earlier this year.

The American Rescue Plan law said the Child Tax Credit program expired at the end of 2021. Lawmakers have crafted a new law that would extended the monthly Child Tax Credit program but that has stalled in the Senate that bill is of course the Build Back Better bill that is being passed through budget reconciliation.

--

--

--

Every week hosts of BBP News Podcast Chris Baker and Nick Rodd write about all current events from politics, technology, business and sports news.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Showing your Child the Art of Negotiation

My Son Doesn’t Know Who Santa Is

Two blue lines that made us Three

My NOT perfect birth story.

Autism Spectrum Disorder and a Mother’s Love

Its The iPhone, Stupid!

The Effects Of Parenting (While Quarantining)

My Daughter Has Started Noticing the Hypocrisy of Our Society

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
BBP News

BBP News

Every week hosts of BBP News Podcast Chris Baker and Nick Rodd write about all current events from politics, technology, business and sports news.

More from Medium

One thing we can do better

January 6 Remembrance

Why you should be worried Doug Ford will win another majority

The Significance of Chinese New Year. In the Motherland and Abroad. The Past and the Present.