Are you still waiting to get your child's tax credit?

 

Are you still waiting to get your child's tax credit?

Check your bank account for a deposit called "CHILDCTC" for Child Tax Credit payments.

Millions of families received the first of six early child tax credit payments. Typically, families must wait until tax time to claim up to $2,000 with the child tax credit. But expansion in 2021 means eligible families can receive up to $300 per eligible dependent (up to $3,600 total) in monthly payments through December. Parents will receive half of the total in 2021, with the other half included in tax refunds in 2022. The extra money could help cover any expenses, such as food or daycare.

The Advanced Child Tax Credit Payments reach most families automatically via direct deposit if the IRS has their bank information on file. Others will have a check mailed. But rolling out the payment may not be smooth sailing for some who haven't yet received a statement. Many families expect money because of their eligibility but encounter service errors and messages that they are no longer eligible. Despite the confusion, some families still get the advance payments. 

How can I see my child's tax credit payment history online?

Except for households not registered from the prepayment schedule, the majority will see the July 15 portion of credit in their bank account through direct deposit. From now on, you can expect recurring monthly payments to arrive in your bank account on the 15th of every month. According to the IRS, you can use the Children's Tax Credit Update Portal to see your processed monthly payment history. It will be the best way to track payments that haven't reached your bank account yet but that you should get.

To verify your payments online, you will need to register with your IRS username and ID.me account information. First-time users will need a photo ID (it's one of the ways the IRS tries to protect your information from identity theft). It is currently unknown if the portal will display other payment details, such as bank information, amount, check processing date, or what might cause a payment delay.

If you think there is an error, start using the updated portal to double-check the bank details the IRS has on file, including your account information and routing numbers.