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The first of the monthly child tax rebates worth up to $ 300 per child was mailed yesterday, but what should you do if it hasn’t arrived? Well, delays are to be expected – even with direct deposits with the IRS – so don’t panic. Learn what to expect if there is a delay and what steps to take if your payment is not received.
What is the child allowance?
Under the US rescue plan, signed last March, families are entitled to tax credits of up to $ 3,600 per child in 2021. Half of this is transferred to taxpayers ahead of time, either as monthly checks or by direct deposit, on the 15th of each month by the end of the year (more information on Read this Lifehacker post).
What delays can be expected?
Direct deposits may be delayed by two to three working days starting July 15th, which means you might not see a payment until after the weekend. Paying by check can take a week or two, so you might get your payments towards the end of the month.
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What if the child benefit payments never arrive?
As a first step, the IRS recommends consulting your Child tax credit portal if you haven’t received your first payment yet. There you can check your authorization and whether the payment has been processed. If your eligibility status is pending, it means the IRS is still determining whether you qualify. Unfortunately, beyond that, the agency doesn’t provide much guidance other than to check the portal again later. Pro CNETWhen you check your bank account to see if the payment has been deposited, look for a deposit that says “CHILDCTC”.
(In addition to your payment status, the portal will be updated over the next few weeks so you can change your address, the status of your loved ones and your salary for 2021).
What if a payment is processed but i still haven’t received it?
If the portal shows a processed payment and you don’t receive it, you can try the following: a Payment tracking, this is a request to find out what happened to your money. A trace can take up to six weeks to process. So don’t use this option until enough time has passed as your payment may still be on its way.
Before initiating any payment tracking, the IRS recommends ensuring that sufficient time has passed from the date of your payment, as follows:
- Direct deposit: five days
- Check by mail to a standard address: four weeks
- Check by mail to a forwarding address: six weeks
- Postal check to a foreign address: nine weeks
If none of this works, in the worst case scenario, you will have to claim the full credit later as part of your 2021 tax return.