There is still hope amongst many people in the United States that President Joe Biden‘s plans to introduce more stimulus check-style payments in 2022, particularly through the expanded Child Tax Credit.
In fact, even though there have been problems with regard to renewing the expanded Child Tax Credit payments so far, Biden has not given up hope and retains the belief that his Build Back Better program can come to fruition.
Last year saw the introduction of the American Rescue Plan Act, which made $1,400 stimulus checks available for all eligible adults and dependents, while the enhanced Child Tax Credit saw $3,600 made available per child under age 6 and $3,000 for children ages 6 to 17.
Double Child Tax Credit payment
Should there be a renewal to the expanded Child Tax Credit in 2022, with this possible as part of a break-off part of the bill, it is expected that it would include an extra payment to make up for parents across the USA missing out on one in January.
Therefore, this payment would arrive at the same time as the one for February, which means that there would be a double payment for eligible Americans.
Where is the other half of the Child Tax Credit?
Many parents and guardians that opted to receive the expanded 2021 Child Tax Credit payments in advance, with these having been made available on a monthly basis in the second half of last year, so in this case they are still owed half of the money, which amounts to $1,800.
The way that you can get this money as a fully refundable credit is by filing your 2021 tax returns this year. Then, the households that opted against the monthly payments in favour of the full $3,600 as a lump sum payment will receive the full amount once your taxes have been filed.