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Sunday, August 7, 2022

CTC Stimulus Check: Here’s How To Solve Any Problems

The previous week saw almost 35 million families deemed eligible to receive their first CTC stimulus check- out of which most were direct deposits. The paper checks for the same have already been mailed out, so there is a huge possibility that it would be arriving in the mail soon. Nevertheless, the current round of payments isn’t without their chinks and bumps- most parents have been reporting multiple issues and have generally been confused about the whole process. 

The next CTC stimulus check payments have been scheduled for the 13th of August- and there are multiple ways to check how much payment you would be receiving based on your income and the number of dependents in your household. Currently, the IRS portal does allow one to fix any errors that could possibly be holding up their money. Also, it might not be too late to unenroll from the check if you are worried about owing money back to the IRS next year. 

Reasons Why The CTC Stimulus Check May Be Delayed

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In the event that you have already qualified for the enhanced credit but still haven’t received your payments, there could be a number of reasons behind that. If you haven’t filed your taxes yet, the IRS might not have the most updated information yet- especially if you have a child during that period. Your CTC Stimulus check could be in the works due to that. But if you have filed your taxes, you should check the Update portal to see if your payment will be delivered through the mail. In that case, it would be advised to give it a couple of days for it to arrive. 

If everything seems to be coming in nicely but you still haven’t received your payment, it might be time that you need to file a payment trace with the IRS regarding your CTC stimulus check. For that, all you need to do is complete Form 2911 and mail it to the agency.

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