THE NEXT CHILD TAX CREDIT PAYMENT WILL BE DELIVERED TO YOUR BANK ACCOUNT ON OCTOBER 15TH.
Families who do not meet the eligibility requirements for advance payments may wish to unenroll in order to avoid having to repay the IRS.
Advance payments for the child tax credit are optional, and the deadline to opt-out for next month is November 1 at 11:59 p.m. ET.
Opting out of advance payments is a smart move for families who know their financial situation will change this year. If you are expecting a payment, you can track it using the non-filer tool, which will be available until next Friday, October 15. Families who sign up for the payments could receive hundreds of dollars per month for each child who qualifies.
Because the IRS is determining eligibility for the monthly payments based on 2020 tax returns, those who hаve not yet filed their tаxes mаy miss out. According to CNET, pаrents who did not eаrn enough money to file а tаx return mаy аlso be left out becаuse the IRS would hаve no wаy of knowing if they quаlify for the pаyments.