At least 4 million families have had their child tax credit payments delayed due to an IRS glitch that resulted in paper checks being sent instead of a direct deposit. Meanwhile, others are still waiting for child tax credit payments because of incorrect banking information or the wrong mailing address. Still others are receiving different amounts than expected — which could affect your taxes next year, especially if you no longer qualify for monthly payments.
If you’re still waiting for a payment, one IRS online tool can give you a clue about where your money is or why your check is delayed. In more good news, if you didn’t receive last month’s check, you can expect to get half of your total amount in five payments instead of six.
We’ll show you how to use the online Update Portal to get a clue of where your money is, how to update your information and what steps to opt out of the advance monthly checks (the next deadline is Oct. 4). We’ve updated this story recently.
How can I check my child tax credit check status online?
You can expect recurring monthly payments to hit your bank account on the 15th of every month between now through December. According to the IRS, you can use the Child Tax Credit Update Portal to see your processed monthly payment history. It’ll be a good way to watch for pending payments that haven’t gone through your bank account yet.
If you still haven’t received the money you’re owed, see if the Processed Payments section of the Update Portal has any information. If the payment was delivered, make sure your address and banking information are correct — especially if you’ve moved or changed banks.
To check on your payments online, you’ll need to register with your IRS username and ID.me account information. First-time users will need to have a photo ID (it’s one of the ways the IRS is trying to protect your information from identity theft). We don’t know yet if the portal will display other payment details, such as banking information, amount, the check’s processing date or what could be causing a delay in the payment.
If you’re checking your bank account, look for the deposit labeled CHILDCTC. If your bank has not received the deposit from the IRS, it won’t have any processing information for you if you’re trying to locate your check. If you think there’s an error, start by using the Update Portal to double-check the bank details the IRS has on file, including your account information and routing numbers. ReadMore
Source : cnet