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August child tax credit payments issued: Here’s why yours might be delayed

admin by admin
August 16, 2021
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August child tax credit payments issued: Here’s why yours might be delayed

(KTLA) — The second installment of expanded child tax credits was issued Friday to millions of eligible families, but some payments will likely be delayed due to a technical glitch, the U.S. Department of Treasury said.

In total, over $15 billion was distributed by the IRS for the child tax credit in August, according to a Treasury news release.

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This month’s payments were sent to about 36 million families and covered approximately 61 million children, which is 1.6 million more than the first installment in July, officials said.

Qualifying families received up to $300 for each child 5 years old and younger, and $250 per child ages 6 through 17.

Households that didn’t receive the July payment and are getting the first child tax credit this month will see even bigger amounts — up to $360 per child under 6 and up to $300 for every child between 6 and 17 years old, according to the IRS. Since their payment will be spread out over five months instead of six, those families can expect the higher figure for each installment.

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In California, the IRS sent out 4,283,000 checks that impacted 7,088,000 children. The payments totaled $1,791,473,000, working out to an average amount of $418 per payment, Treasury figures showed.

ost households received the payment via direct deposit, but some who got theirs through that method last month can expect a paper check in the mail instead, according to the Treasury Department. That’s because of a “technical issue” impacting less than 15% of recipients.

As a result, some households may see their August payment delayed, since direct deposit is generally the fastest way to receive money from the IRS.

“For those receiving their payments by paper check, be sure to allow extra time for delivery by mail through the end of August,” a news release from the federal agency stated.

 

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