Stimulus Payments: Millions of Americans Not Distributed $3,600 in Child Credit

October 21, 2022 Reeti Garg Uncategorised 0

Retirees with Only Social Security Benefits Don't Have to Pay Taxes

Millions of Americans are owed $3,600 in child credit from stimulus payments.

A recent audit of the American Rescue Plan’s child tax credit payments found that $3.7billion was still owed to qualified taxpayers, according to AL.com.

It reviewed the IRS’ expansion of child tax credit from $2,000 to $3,600, for each child under age six, and $3,000 for children under age 18.

Half of the credit was paid in monthly installments of $300 or $250 starting in July 2021. But efforts to extend the payments into 2022 failed.

8.3million payments worth about $3.7billion to 4.1million eligible taxpayers.

The audit found that the IRS failed to send 8.3million payments worth about $3.7billion to 4.1million eligible taxpayers.

They also sent 3.3million payments worth more than $1.1billion to 1.5million Americans who did not fit the criteria.

If you have a child and did not receive the child tax credit, you should check if you are eligible as the October 17 deadline is fast approaching.

 

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About Reeti Garg 337 Articles
Being outstanding in school and college for her academics and sports, little did she know that her passion for writing about unobserved people, stranded things and mysteries of the heart would lead her to become a professional writer later in life! An avid reader and a hardcore movie buff, her favorite past time is listening to music and writing poems. She is a published author and on her way to completing her second book ‘Under the Falling Stars’, a thriller on bisexuality. In this short span of 4 years of being a professional writer, she has been associated with many articles for renowned magazines and newspapers, blogs, short stories and poetries. Names associated with her writing skills are ‘Meri Sajni’, ‘Akinchan Bharat’, ‘Hamara Ghaziabad’, mycity4kids.com. Aspiring to be famous and known as a soulful author one day, she would love to settle someday in the silent disquietedness of London countryside, where she plans to just sip coffee and keep writing trilogies.