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Sunday, September 25, 2022

New Stimulus Checks Worth $300 Arriving This Week

2021 is slowly coming to an end, and the last month is just around the corner. That also marks the final stimulus check for families under the expanded CTC act. Regardless, the penultimate check for November is coming in a few days. Read on to find how you can track your payment.

The November CTC Stimulus Check

So far, Biden’s American Rescue Plan has given numerous American families 4 CTC stimulus checks. They were sent to help them meet their daily expenses as well as nurse the economy of the United States back to a healthy state following the Covid pandemic.

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The bill stated that families could claim a maximum of $3600 per child whose age is below 6. Parents who have to care for dependents who are 18 years old can be eligible for up to $500 per such dependent under the expanded CTC plan. Dependents aged 19 to 24 have to be full-time college attendees to be eligible for this $500.

But the deadline for receiving these payments is almost here. The next batch of CTC stimulus checks will be directly deposited in bank accounts on 15th November. People who are to get the money via a physical check have a longer waiting time.

15th November is the last date by which families can claim 50% of their payments under CTC for 2021. After that date, they will be able to claim the whole CTC amount after filing their taxes for 2021 in 2022.

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Many families with low income who are not usually tax-filers can get these payments for the 1st time. This means that the IRS has to have their information related to banking on the record to deposit the CTC payments. Anyone who is yet to receive the payment can still register themselves with the Internal Revenue Service.

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