Now that we’re in the home stretch of the year, the arrival of the fourth quarter not only means that 2021 is winding down. But so is the latest stimulus check effort, with the next child tax credit payment set to arrive later this month — in just two weeks’ time.
The fourth of six child tax credit checks will arrive on October 15, with two final checks after that. Below, we’ll once again walk through the key facts about these checks. Who’s getting them, how, and when.
Next child tax credit payment — October 15
Once December arrives, eligible parents will have gotten six checks that combine to form half of the child tax credit amount that they’re eligible for. This advance payment, in the form of the six checks, will combine with the rest of the tax credit coming next year to form the full amount.
Parents of children younger than age 17 are generally eligible recipients for this stimulus check. Provided they meet the income requirements, which you can check here from the IRS website.
Eligible recipients of this payment don’t have to do anything to get it. The IRS will send it to whatever destination it has on file for you — if the tax agency has your bank details, it will be direct-deposited. Otherwise, the IRS will send it in the mail as a paper check. But recipients of the latter would need to be a little patient, since mailing it means the check would arrive a few days after October 15.
Payment amounts, other checks, and more
For every child in a household, a family will get a child tax credit of $3,600. For each child between ages six and 17, the amount is $3,000. Half of those amounts will come next year as a normal tax credit, come tax time. While the remaining amounts ($1,800 and $1,500, respectively), are what’s being split across the six checks through December.
That means, for each eligible child, a family will get either $250 or $300 with their next child tax credit payment, as normal.
Other important points:
- After the check on October 15, two more child tax credit payments are coming. One on November 15, and the sixth and final payment on December 15.
- The IRS is sending out a letter by the end of the year, with details on your child tax credit payments that you’ll want to hang on to. You’ll need this letter for next year when you file your federal income taxes.
- There are still other stimulus check efforts besides this one that is happening. As we noted yesterday, the Biden administration has also announced that new checks are coming for meatpacking workers, grocery store employees, and farm workers. We don’t yet know how much grocery store employees will receive. But the plan is to give workers in the other two categories a one-time $600 stimulus check.