Child Tax Credit 2021: Here's when the fourth check will deposit

Child Tax Credit 2021: Here's when the fourth check will deposit

Oct 14, 2021 by Moneywatch - CBSNews.com

Key Facts

  • October 14, 2021 / 7:26 AM / MoneyWatch The fourth monthly payment of the enhanced Child Tax Credit is landing in bank accounts on Friday, with anti-poverty researchers pointing to the ongoing cash deposits as helping to reduce hardship among families across the nation.
  • The Biden Administration is seeking to renew the enhanced CTC through 2025, providing a monthly cash child allowance to roughly 60 million children, but its fate may be up in the air amid some pushback from lawmakers about the cost and structure of the benefit.
  • For now, parents of about 60 million children will receive direct deposit payments on October 15, while some may receive the checks through the mail anywhere from a few days to a week later.
  • But as of yet, the IRS Child Tax Credit Update Portal (CTC UP) still doesn't have the functionality to add a child born in 2021, although the IRS says it will be added.

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