A fourth stimulus check still seems highly unlikely for Americans, even as concerns about the rising cost of items due to inflation and the end of nearly all COVID-19 protections continue to spark panic for some of the lowest-income families. However, some of those struggling can still take advantage of one of the few remaining programs and receive up to $1800 from the government before the end of the year.
The extended child tax credits, which run through December and offer families with children an additional $300/month for children under 6 and $250/month for children aged 6-17, can still be applied for by those in qualify, but have not yet received any money. According to WBFF Baltimore, those who notify the Internal Revenue Service on Nov. 15 that they qualify but have not received payments because they normally do not file taxes because of the amount of money they earn will receive a one-time payment in December of anywhere between $ 1,500 and $1,800 per child, which equals the entire first half of expanded child tax credit payments that have been pouring into accounts monthly since July.
Those who need to apply can do so by going to the Child Tax Credit Update Portal on the IRS website.
Parents who already receive the payments monthly will get the second half of their credit when they file their 2021 tax returns in the new year.
As with any other extra cash, the Biden administration hopes to approve the expanded child tax credits for at least an additional year in the unapproved Build Back Better plan. While it was initially hoped to extend the appropriations to 2025, in an effort to lower the cost of the bill and appeal to more moderate Democrats, the appropriations were reduced to a one-year extension through 2022.
If the bill is passed, all affected families — including those who have a new child before the end of 2021 — will be eligible for the payments for an additional year, which adds up to a total of anywhere from $3,000-$3,600 per child.
Some have also pushed for the tax credits to be a permanent part of the US economic system, though it’s unclear whether that will happen, or whether there will be specific requirements for such a plan.