It is a new month and that means if you are a parent and are eligible, you’ll be receiving a payment from the IRS for having a child.
July was the official first month when the monthly child tax credit payments began being issued.
And with a new month, you can expect another cash payment if you did not opt out.
Payments will be sent monthly on the 15th of every month from July – December 2021.
If things follow like what happened last month, while the IRS had plans to ensure that people received theirs on or by September 15, 2021, it turns out, people received their checks about a week after that date.
So, right around the 15th of October is when you can expect the next check for 2021.
The checks will be sent and will either be direct deposited to the information the IRS had on file (which was likely the same bank account your stimulus check and/or tax refund went to) or will be sent in the form of a check in the mail.
So, what do you do if you don’t see the amount in your bank account?
You can actually check the status of your child tax credit payment on the IRS website.
Simply go onto the IRS website here and click “Manage Advance Payments” then login (if you don’t have an account, create one).
Then, view the 2021 account transcript.
Look for the line that says “code 846 refund issued” and you will see the date of when the payment was sent to the right of it. The amount sent will be next to that.
That will tell you if your payment has been sent yet. If you don’t see this, it’s likely your payment has not been sent yet.
BUT remember, the IRS is sending payments actively through the 15th of every month.
What do you do if you haven’t received previous months amounts?
According to reports, your upcoming payments for October, November and December might be increased to reflect the missing payments.
If you are missing previous months and don’t see it included over the next few months, you can file an IRS payment trace. Check here for more information about missing payments.
So, there you have it, watch your bank account and/or mail for a child tax credit payment.
Oh, and if you don’t want to receive these, you can opt out using the same portal mentioned above.