Child Tax Credit: 4 News Not To Miss This Week

Child Tax Credit Scam Warning from IRS

On Wednesday, August 11, 2021, the Prescott Valley Police Department noticed that fraudsters were using the Child Tax Deduction Program as an excuse to steal your personal and financial information.

Fraudsters attempt to obtain personal information using text messages, emails, phone calls, or social media. Scammers impersonate the Internal Revenue Service (IRS) and even use fake IRS websites. These cybercriminals who look like the IRS advise you to fill out a form to qualify for a tax credit. This form requires you to enter all your personal information, including your social security number, date of birth, and banking information. Cybercriminals may even require you to pay to fill out a gift card or cryptocurrency form.

Child tax credit fraud is a fraudulent way to obtain personal information, access bank accounts, and steal money. The IRS will never contact you via email, text message, phone, or social media. The IRS does not leave threatening recorded messages or threaten to arrest you.

For more information, please visit the IRS website at www.IRS.gov. You can also file a complaint with the Arizona Attorney General’s Office (602) 542-8888 or visit the Arizona website at www.azag.gov.

The Prescott Valley Police Station can call (928) 772-9267 in case of non-emergency or 911 in case of emergency. Yavapai County Silent Witness is 1-800-932-3232.

If you see something, say something!

Source: https://www.signalsaz.com/

The New Child Tax Credit Brings A Drop In Households..

A new federal survey reported that households with children couldn’t eat enough after the introduction of child discounts.

On July 15, the Internal Revenue Service began sending $ 250- $ 300 monthly child tax credit payments to approximately 35 million eligible families. Payment will continue until December.

The Census Bureau conducted a survey before and after the credit was sent. In just six weeks, credit showed a rapid decline in food shortages and a decline in people who said they were having a hard time paying their weekly costs.

According to the survey, there was no change in food shortages in households without children during the same period.

Households that received tax credits reported spending it on multiple things, but 47% said they spent the money on food. Of households with at least one child under the age of five, 17% spend tax credits on childcare.

The pandemic has dramatically increased the number of hungry children in the country. According to the non-profit Feeding America, 13 million people (1 in 6 children) don’t know where their next meal will come from.

Source: https://wfuv.org/

More payments for child tax deductions on Friday

The second installment of the child tax credit prepayment will be deposited directly and by mail into your bank account on Friday.

According to CNET, the total amount of child tax deductions increased this year is higher than it was a few years ago, meaning that some parents will reach $ 3,600 instead of $ 2,000.

For those with eligible children who have not opted out, the first payment was made on July 15.

Depending on the age of the child and the total household income adjusted from the previous tax return, the monthly payment may be up to $ 300 for each eligible child. CNET claims that monthly pre-checks can be of great help in covering the rising costs of childcare and school supplies.

Parents can use the update portal to track their monthly checks and update information that may have changed since the latest tax return.

Source: https://fox28media.com

Child tax credit: Where are my payments?

Parents were expecting a child discount to be paid earlier this month, but instead, it will take longer for some.

However, last month, the US Treasury announced that the majority of families will receive direct deposit payments in August and the rest will receive checks by mail.

Payment of child tax credit in August will come out early

The ministry issued a statement on Friday, saying, “A small percentage (less than 15%) of recipients who received direct deposit payments in July due to technical issues expected to be resolved by September payments. Please post for payment in August. “

In the video above, IRS spokesman Luis Garcia reports that as of today, the Treasury has paid 2.1 million children 1.2 million times, on average $ 436.

If I receive a paper check instead of a direct deposit, when can I expect it in my mailbox? Garcia says in about a week to 10 days.

He says he can not only defer payment of child tax credits, but also perform stimulus checks if there are problems with last year’s tax returns, such as errors, corrections, and fraud flags.

The IRS hopes that these late payments will be processed within the next 90-120 days.

Click here to see if you will receive a direct deposit or paper check this month.

Eligible families with children under the age of 6 receive $ 300 per child per month. Families with children between the ages of 6 and 17 receive $ 250 per month.

Comprehensive Tax Credit Checks and Preschool Help: What Parents Should Know About Budget Accounts

Since August 15th is Sunday, this second of the six-month payments will arrive early on August 13th.

The remaining payments are scheduled for September 15, October 15, November 15, and December 15.

According to the IRS, the other half of the credit will be repaid with a tax refund, for families with children under the age of 6 for a total of $ 3,600 per child and for families with older children $ 3,000. increase. This is an increase from the previous $ 2,000 per child credit.
Source: https://fox8.com/