Throughout the ongoing COVID-19 pandemic, parents across the country received an extra financial boost from President Biden’s build-back better agenda. Between July and December 2021, many families across the nation received up to $300 a month per child, a portion of the child tax credit disbursement. The monthly payments intended to assist economically struggling individuals. Now, as we head into the second month of 2022, Outsiders are left wondering whether the potential exists for further, even double, child tax credit payments in February.
White House Press Secretary, Jen Psaki, initially proposed the topic in December 2021. The discussion arose amid the distribution of the final child tax credit payments. Unfortunately, a near equally divided Congress has put that potential at a standstill.
Had the proposal seen approval, the build-back better agenda would have enabled the payments to continue into the New Year. The double payments would have gone out in February as a way to make up for January’s missed payment. Psaki previously explained, “If we get it done in January, we’ve talked to Treasury officials and others about doing double payments in February as an option.”
For now, it seems families with little Outsiders will continue to endure 2022 without the monthly child tax credit payments.
Fortunately, however, families that received the monthly payments throughout 2021 can still claim up to $1,800 per child on this year’s taxes. The total comes as the remainder of the maximum amount that families can claim per child annually, that total, as per The U.S. Sun, amounting to $3,600.
Ensure Child Tax Credit Letters Are Correct
The child tax credit disbursements surely assisted many struggling American families. However, those same individuals now have an extra step to complete when submitting this year’s annual tax return forms. Those who opted to receive the payment in installments should have received the IRS’s Letter 6419 by now.
Essentially, Letter 6419 outlines for American families the total dollar amount received during that six-month period of 2021. It also details the number of eligible children for which those families received those funds. The government agency expects tax filers to utilize the letters to determine exactly how much to claim for 2021.
Overall, the purpose of the letter is straightforward. However, in recent weeks, the IRS received reports nationally that handfuls of these letters listed incorrect information. The issue comes in the latest string of glitches the IRS has experienced throughout the COVID-19 pandemic.
Therefore, before you submit your tax return, it is essential that Outsiders who received the payments throughout 2021 ensure their Letter 6419 is correct. Fortunately, we have information regarding how you can be sure you’re listing the correct totals when filing your taxes.
The IRS encourages those who believe their Letter 6419 is incorrect to head to their website and create an account. After, parents can check to see whether the totals listed on the website match the totals on the letter. However, if the information on the site looks incorrect too, reach out to the IRS to report the issue.