The same is true for those families that received payments for those who did not qualify. For example, if you were overpaid and the IRS did not adjust the amount in subsequent payments, then you would face tax debt and will have to repay the difference. WILL THE PAYMENTS I RECEIVE THIS YEAR IMPACT MY TAXES NEXT YEAR?
If that's the case, you won't receive money until you file your taxes next year. Keep in mind that if you had a new dependent since you last filed taxes, the IRS will not have that information on file. While predominantly used for tax refunds, Form 3911 has also been utilized for missing economic impact payments and Child Tax Credit payments. You can file Form 3911 with the IRS to help trace your refund to determine its whereabouts. Before doing so, you'll need to follow up on your check to make sure it's not already on its way.Įven if a systemic error prevented your Child Tax Credit payment from reaching you and the check was otherwise not lost or destroyed to your knowledge, the IRS can help. But if not, you can claim the sum when you file your upcoming 2021 taxes, or you can file a payment tracking with the IRS. I DID NOT RECEIVE SOME PAYMENTS BETWEEN JULY AND DECEMBER, CAN I CLAIM THAT MONEY?Īny money missing due to an IRS error or outdated information may come with your December payment. If a family meets the income requirements and has received each payment between July and December of this year, they may receive up to $1,800 for each child 5 years of age or younger, or up to $1,500 for each child between the ages of 6 and 17.īut if parents chose not to participate before the IRS has issued the first check, then they will get the full amount they qualify for at once - up to $3,600 per child. Here's what to expect when you file your taxes next year: HOW MUCH MORE MONEY WILL I GET IN 2022? Doubts prevail not only about the remaining payment, but also about the future of the credit since it is still uncertain whether Congress will extend the payments beyond 2022. Sign up for NBC New York newsletters.īut thousands of families wonder what's next as they eagerly await their last payment. Get Tri-state area news and weather forecasts to your inbox.
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