The IRS has announced the September child tax credits are on their way and future payment dates.
The IRS said Wednesday that September’s payments, totalling nearly $15 billion, have been sent, with direct deposits showing in bank accounts as early as Wednesday.
The IRS added that paper checks have been mailed, but they may take until the end of September to arrive.
Those wishing to change their delivery option for October’s payment can do so on the Child Tax Credit Update Portal until Monday, October 4 at 11:59 p.m. ET.
Families who filed a 2019 or 2020 tax return by Monday, August 30, including a simplified return from the Non-filer Sign-up Tool and non-filers who signed up for stimulus checks, will be receiving the payments with their latest income information.
Families receiving their first monthly payment in September will still receive their total advance payment for the year – up to $1,800 for each child under six and $1,500 for each child 6-17. The payment will be spread over four months instead of six, netting payments of up to $450/month for each child under six and $375 for each child 6-17.
Families not yet receiving payments can still sign up on the IRS website not only for the child tax credit, but all of the previous stimulus checks as well.
Families can also stop payments at any time on the Portal. Requests to unenroll in time for October’s payment must be made by Monday, October 4 at 11:59 p.m. ET.
Married couples must unenroll separately; if one spouse unenrolls, the family will still receive monthly payments, but at half the normal amount.
The Non-filer Sign-Up Tool will remain open through Friday, October 15.
Fully unenrolling will not stop the Child Tax Credit; families will receive it as a lump sum when they file their 2021 tax return.
The remaining 2021 child tax credit payments will be released on Friday, October 15, Monday, November 15, and Wednesday, December 15.
More information on the Child Tax Credit payments can be found on the IRS’s Child Tax Credit website.