IRS Issues October Child Tax Credits, Gives Update On Delayed Payments

The IRS on Friday release declared that due to a “technical issue”, the payments for the last month got delayed for a small number of advance child tax credit recipients in September has now been sorted while explaining about the fourth monthly payments of the program.

How much amount has been sent as advance child tax credit in October?

The federal authorities said, in October, the total of the payment is nearly about $15 billion and it is anticipated to go to 36 million families which will consequently affect 61 million children approximately positively, as soon as Friday on 15th October. The maximum of the payments will be sent to families by direct deposit in the bank accounts of the respective families.

A New Requirement Decided by IRS for R&D Credit Refund Claims 

As per the reports of the United States Treasury Department, in California, the advance child tax credit of more than 4.2 million was sent on Friday which covers nearly 7.1 million children. The total of the payments sent was $1.7 billion with the payment for the average family amounting to nearly about $416. 

What is the amount which eligible individuals will be receiving?

The monthly payment received by eligible individuals amounts up to $300 for each child who falls below the age group of 6 years old and up to $250 per child who falls between the age bracket of 6 and 17 as per the expanded plan. To date, the IRS and the Treasury department have sent more than $61 billion to eligible families, from July till October which includes the amount of $6.9 billion sent to Californians.

It wasn’t clear instantly if any errors were affecting payments for October. September marked the consecutive second month where the payments for advance child tax credit were delayed for some citizens due to a “technical issue.” The issue had affected very few people, approximately less than 2% of recipients.

According to the IRS, less than 15 percent of recipients received their payment late due to a technical glitch in August.

What did the IRS claim in a news release?

The IRS claimed in a news release that “Given the new components of this program, the IRS continues to work hard to make improvements and deliver payments timely.”

IRS Issues October Child Tax Credits
IRS Issues October Child Tax Credits

Those who were impacted by the problem in September were majorly those taxpayers who had recently made changes in the bank account details or address information on the child tax credit update portal of the IRS, in some married couples also the issue happened in case the couple files their taxes jointly and only one spouse made the change and that results in a split payment on which the IRS explained that in such cases, for some individual this was not the only reason of delay in the payment but also induced some families to get slightly more than the appropriate amount in September.

A New Requirement Decided by IRS for R&D Credit Refund Claims 

For those married couples, each spouse will be receiving a slightly lesser amount in their payment for October, November, and December to make adjustments for the extra payment, on an average of $10 to $13 per child. Further information will be provided from the IRS to the affected individuals in a letter.

What can you do if you think you are qualified but didn’t receive payment for the child tax credit?

Those who believe that they are eligible to get the advance child tax credit payments but haven’t received the payment can request a trace to track their payments through the IRS. However, certain time frames have to be checked before requesting a trace, check out them.

  • 5 days from the date of direct deposit and the bank claims it has not gotten the payment.
  • 4 weeks from the time when payment was sent via mail to a particular address.
  • 6 weeks from the time when the payment was sent via mail and you have a forwarding address on a document with the local post office.
  • 9 weeks from the time when the payment was mailed and you have a foreign address.

To start a trace fill Form 3911 and send the same via fax or mail.  The instructions about where to send the same are mentioned at the bottom of the form.

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Also, the IRS is continuously reminding Americans that still it’s not too late for eligible families to sign up for the advance child tax credit payments, even if they haven’t filed their 2020 income tax return yet or for those who generally don’t file taxes, given their details through the non-filers option of the agency.

Following October, there will be two remaining payments and after that, the second half of the payment can be claimed by taxpayers in 2022 while filing their return for this year. Some have already chosen to opt out of the monthly payments and will get a lump-sum payment in 2022 after filing their returns for this year.

8 thoughts on “IRS Issues October Child Tax Credits, Gives Update On Delayed Payments”

  1. Pingback: Anonymous
  2. Did not get September and October payment for my child.Got July and August but not September and October. What happen to them?

    Reply
  3. Way haven’t I got my child tax credit money for September and October yet. Me and my son is about to lose anything, my car , no place to live tomorrow is or last day I will lose
    the car and everything in my storage That money was keeping us a float

    Reply
  4. Maybe everyone that’s getting there money late will have to charge a little more money like IRS does when you pay late..
    40 dlls for late payment
    And what ever %age if you don’t get payment after it should..

    Reply
  5. I’m a mother of 5 and I didn’t receive nothin but the first 2 months of payments and didn’t receive anything else and doesn’t know anything else about what’s goin on with mines single parent and it would help me alot.

    Reply

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