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The deadline for the IRS child tax credit for Congress to extend the $300 payment into 2022 is in five days

The deadline for the IRS child tax credit for Congress to extend the $300 payment into 2022 is five days.

With 2021 coming to an end and Congress’ December 28 deadline just days away, families are pushing for another year $300 monthly payment per child.

The December 28 National Assembly deadline is only a few days away

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The December 28 National Assembly deadline is only a few days awayCredit: Getty

The push comes as the IRS has already begun paying the child tax credit that expires on December 31.

Parents are waiting to see if their child tax credit check, mailed in December 17, is their final bailout as Congress intentionally extended the child tax credit I have one more year.

Thanks to the $1.9 trillion coronavirus relief bill signed into law by President Joe Biden in March, families eligible for the credit received $300 monthly payments for each children in 2021.

However, the tax credit is only scheduled to last until the end of the year.

Democrats in Congress are pushing for an extended round of child tax credits for 2022, but they have faced resistance from West Virginia Senator Joe Manchin within their own party.

To make matters worse, the IRS gave Congress a December 28 deadline to pass a package that would ensure on-time payments are sent out by mid-January.

If the Build Back Better law is passed, fewer families will receive monthly payments in the new year.

Read ours Child tax credit live blog for the latest news and updates…

Only joint miners earning less than $150,000 in total and householders earning less than $112,500 will receive checks in the mail.

Parents of children 6 and younger received monthly checks for up to $300 per child and monthly checks for up to $250 for children ages 6 to 17.

Checks account for half of the enhanced credit – the other half is received when families file their 2021 tax returns this year.

Credits total up to $3,600 for each younger child and up to $3,000 for each older child.

Prior to this year, CTCs were normally up to $2,000 per child up to age 17 and parents would claim annually on their tax returns.

This year also saw more people qualify as the credit was refunded.

Previously, CTCs were only partially refundable, meaning that people below certain income levels would not be eligible for the tax deduction.

Now, an additional 26 million children are eligible for the full credits.

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https://www.the-sun.com/money/4331219/irs-child-tax-credit-deadline-congress-2022/ The deadline for the IRS child tax credit for Congress to extend the $300 payment into 2022 is in five days

DevanCole

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