As the end of the year approaches, many families are eager to find out when they can expect their next Child Tax Credit (CTC) payments. With rumors circulating online about a $300 payment scheduled for December, it’s crucial to separate fact from fiction. In this article, we’ll explore the truth behind the rumors, provide accurate information about the Child Tax Credit, and outline when eligible families can expect their next payment.

What Is the Child Tax Credit (CTC)?

The Child Tax Credit is a federal program designed to provide financial relief to families with qualifying children. The credit was expanded under the American Rescue Plan, which was passed in March 2021. As part of the expansion, the credit was increased to $3,000 per child for children ages 6 to 17 and $3,600 per child for children under 6. This was a significant boost from the previous $2,000 per child.

To make the credit more accessible, the IRS began issuing monthly payments to eligible families starting in July 2021. These payments were intended to provide ongoing financial support throughout the year, with half of the credit being paid out in advance through monthly payments and the other half available when filing taxes.

What Are the $300 Payments?

The $300 Child Tax Credit payments refer to the monthly advance payments issued to eligible families for children under the age of 6. Families with children aged 6 to 17 received $250 per month. These payments were part of the temporary expansion of the Child Tax Credit, designed to provide direct financial relief to parents and caregivers.

The monthly payments began in July 2021, and each family’s payment amount was based on their tax return information. These advance payments were a way to help families with the rising cost of living during the pandemic, allowing them to receive part of their expected tax credit before filing their annual returns.

Rumors About a $300 Payment in December

Recently, rumors have been circulating online about a potential $300 payment scheduled for December. These rumors suggest that the IRS may send out an additional $300 payment to families who haven’t received their monthly payments or those who are somehow eligible for a December bonus. However, these rumors are not entirely accurate.

As of now, the Child Tax Credit program is not scheduled to issue an additional $300 payment in December. The monthly payments were set to end in December 2021, with the final installment being sent in that month. However, for those who missed previous payments, there may be an opportunity to claim the remaining balance of the Child Tax Credit when filing taxes in 2022.

It’s important to note that families who have been receiving monthly payments throughout the year will receive their final advance payment in December 2021, but no extra payments are scheduled beyond that. Any rumors suggesting additional December payments are false.

When Is the Final Child Tax Credit Payment for 2021?

The final advance payment for the Child Tax Credit is scheduled to be sent on December 15, 2021. This will be the last in the series of monthly payments, with families receiving $300 for each child under 6 and $250 for each child aged 6 to 17. If you’ve been receiving these monthly payments, the December payment will be the last installment of the year.

What Happens If You Missed Some Payments?

For families who missed out on monthly Child Tax Credit payments in 2021, the remaining portion of the credit can be claimed when filing your 2021 tax return. This means that even if you didn’t receive all of your monthly payments, you can still claim the remaining balance as part of your tax refund.

If you’ve moved or changed your bank account details, make sure to update your information with the IRS to ensure that you receive the remaining payments or credits.

Fact Check Summary on the $300 Payment Rumors

• Rumor: A $300 Child Tax Credit payment is scheduled for December.
• Fact: The $300 payment refers to the final Child Tax Credit installment in December, not an additional payment.
• Final Payment Date: The last installment for 2021 will be issued on December 15, 2021.
• Missed Payments: Families can claim any missed payments when filing their 2021 tax return in 2022.

Conclusion

The $300 Child Tax Credit payments have provided much-needed financial relief to millions of families, but it’s important to stay informed and be aware of misinformation. While the final $300 payment for children under 6 will be issued on December 15, 2021, there are no additional payments scheduled beyond that. Families who missed any payments will have the opportunity to claim the remaining credit when filing their taxes in 2022.

For more information about the Child Tax Credit and to check your eligibility, visit the IRS website.

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