Cleveland, Ohio 2021-10-19 12:58:22 –
Cleveland (WJW) —If you’re wondering why you’re moving forward Child tax deduction October payments were low, it’s back to it September technical glitches.. Payments in November and December are also expected to be affected for the following reasons:
Due to this technical issue with September payments, less than 2% of CTC recipients did not receive payment on the scheduled payment date.
Recently, some taxpayers have renewed their bank accounts or addresses on the IRS Child Tax Credit Renewal Portal.
More specifically, it happened that married taxpayers jointly filed when only one spouse changed their bank account or address.
This splits the payment in two between the existing account or address and the new account or address.
In some of these cases, installments caused delays and payments were slightly higher than the correct amount for September.
The IRS statement regarding this installment payment is as follows:
To remedy this overpayment, the IRS states that each spouse should expect small payments in October, November and December.
Typical overpayments were $ 31.25 per child between the ages of 6 and 17 and $ 37.50 per child under the age of 6. This saves about $ 10 to $ 13 per child for the remaining three months of payment.
The remaining payments are set for November 15th and December 15th.
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Why you might get a smaller payment in October, November, December Source link Why you might get a smaller payment in October, November, December