While the CTC stimulus check payments have already made quite a big impact on the poverty level in the USA, it doesn’t imply an equal distribution of said funds. Nevertheless, the second child tax credit check has already been sent out with around four more payments left to be made from the IRS by the end of the year.
Close to $15 billion has already been sent through the second payment- which will have a reach of 36 million families. But, there are still some issues that might prevent one from receiving the payment.
Child tax credit stimulus check-update
For example, the IRS has brought out a new criterion that would make the recipients of the stimulus check completely aware of an unintended issue. Some of the individuals who received their first CTC payment back in July in the form of a direct deposit were then sent the next payment in August in the form of a paper check. While it is not exactly clear why there was a difference in the mode of payment, it can be ascertained that the paper checks take much longer to arrive.
The IRS has also mentioned that the issue behind this discrepancy should ideally be fixed by the time the payments start going out in September. Those who have been impacted by this change would need to go through no additional action for their stimulus check payments to get back to direct deposits. If someone wants to check if they will be receiving their money through a paper check or not, they can visit the Child Tax Credit Update Portal which will help them check for that.
Also, you need to make sure that every change you make should be filed before the 30th of August since the third CTC stimulus check payment will be delivered in less than a month. The IRS, therefore, needs to have your information on hand.