The payments are part of thethat increases the 2021 tax credit from $2,000 per child to $3,600, depending on the age of your children. The March law also allows parents to claim the money in periodic payments starting July 15, rather than waiting to claim the credit next year.
So what’s the problem with this IRS letter? While you may be tempted to recycle it, it’s a smart idea to save it instead. We’ll explain why, what this letter will and won’t tell you, and why you may receive a second letter from the IRS regarding your child tax credit checks. We also explain what it can mean if you do not receive a letter at all. For more, here’s how you canand ideas for .
First Child Tax Credit Letter from the IRS
If you receive a letter from the IRS about the child discount, it’s because the IRS is alerting you to the possibility that you may be eligible for the child discount starting next month.
The letter is not a guarantee that you will receive payment. It only informs you that based on information the IRS has for you – from your 2019 or 2020 federal income tax return or if you used the Non-Filers tool to file a— the IRS wants you to know . (You can also and use our calculator to see .)
As with all IRS correspondence, you will want to keep this letter for your records.
What Could a Second Child Rebate From the IRS Include?
If the IRS determines that you and your family meet the child tax credit payment requirements, you will receive a second letter with an estimate of the amount to expect as of July 15. Half of the payments will go out monthly from July through December of this year, and the remaining money will come when you file your taxes in 2022. (This is what you want to know about.)
What if I don’t get a letter from the IRS about the payments?
The IRS said it is sending letters to 36 million families. But it also said up to 39 million households could qualify for the credit. So maybe several million families don’t hear a letter from the IRS that they could get a check starting next month.
If the IRS doesn’t have enough information on hand to determine whether you and your family qualify, for example, you may not get a letter. This can be the case if you don’t normally have to file taxes – someone who gives the IRS a “If this is your situation, you may need to let the IRS know your eligibility using the tax office will open at the end of this month.
It is also possible that the IRS does not have your current mailing address and has sent your letter to a different location. Here’s how to make sure the IRS and the US Postal Service have it:.
For more information about the child discount, use the followinglaunch by early July, what happens if you have? and which for the credit.