Here's what to do if you didn’t receive your child tax credit:
A recent audit of child tax credit payments – a provision of the American Rescue Plan passed amid the COVID-19 pandemic – showed the IRS delivered the overwhelming majority correctly.
The small margin of error, however, represents a massive number, with some $3.7 billion is still owed to eligible taxpayers.reviewed the Internal Revenue Service’s handling of the expanded child tax credit. The expansion increased the credit from $2,000 to $3,600 for each child younger than age 6 and $3,000 for children under age 18. Half of the total - $1,800 or $1,500 – was payable in six monthly installments of $300 or $250 starting July 2021, with the rest refundable with tax returns.
The review also identified 11.459 payments worth $4.2 million that were erroneously sent to 523 bank accounts and incorrect updates to direct deposit information for 1,610 taxpayers with bank account information associated with things like health savings accounts.If you have a child and did not receive the child tax credit, the first thing you should do is determine if you are eligible.
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