Here’s What To Do If You Didn’t Receive Your Child Tax Credit This Month
Millions of payments went out Friday for the monthly Child Tax Credit that parents are supposed to receive now through December.
But, you may want to check your bank account.
Although many saw direct deposits of this Child Tax Credit hit their accounts with no problems just last month, a bunch of families were left high and dry this month.
Oh trust me. If you spent any time on social media this week, you were bound to see the posts.
While this might have immediately been a scary situation for any parent that was depending on the money, it’s most likely still on the way. You just may get a paper check this month instead of a direct deposit.
Thank goodness, my money hit via direct deposit, or I would have been a panicked mess.
It seems there was a bit of a SNAFU at the treasury department.
The U.S. Treasury issued a statement Friday before noon that stated: “Due to a technical issue expected to be resolved by the September payments, a small percentage of recipients — less than 15% — who received payments by direct deposit in July will be mailed paper checks for the August payment.”
Yahoo Finance
That’s still a good chunk of people — about 4 million people that didn’t get their direct deposit of the Child Welfare money.
And, those people may still see delays. Yes, paper checks are being sent out, but it may take a week or two to receive them.
Now, supposedly, the September payment will be issued by direct deposit just as normal.
But, that really doesn’t help those of you that were counting down the days until you got that direct deposit this month.
So, what the heck do you do if you didn’t receive a deposit this month, and you haven’t yet received a paper check?
I’m betting you want your money!!
The first thing you want to do is go to the Child Tax Credit Update Portal on IRS.gov. There, you can find out if you were issued / are going to be issued a paper check this month.
If you don’t see your information listed, and you know that you are supposed to be eligible for the payment, get on the phone with the IRS.
Now, there are some people that didn’t receive their money in July either.
If that was the case, you are supposed to be eligible for a BIGGER check this month.
As a reminder, you are supposed to get $300 for each kid 5 and under and then $250 for each child 6 through 17.
Maybe you didn’t file, or weren’t required to file a tax return. In that case, you have to SIGN UP to receive the Child Tax Credit. That may be the problem in some cases.
Head on over to the Child Tax Credit Update Portal, and sign up to receive your money.