(WSIL) � The last Child Tax Credit advance payment will soon be released.
The Internal Revenue Service says millions of families will be receiving their last payments in December. About $16 billion in total will be sent to over 36 million families across the country.
Families are eligible to get Child Tax Credit payments if they filed a 2019 or 2020 federal tax return. The payments will be sent to those whose returns were processed by Dec. 1.
Payments started to be sent out Wednesday for those who signed up for direct deposit. For those who get the payment through paper check, those are not expected to be delivered until the end of the month.
If you were eligible for the Child Tax Credit and did not receive any payments, you can claim the full amount you should have gotten on your 2021 federal tax return.
In January, the IRS says they will send Letter 6419 to taxpayers to help them figure out what payments they should have received.
Since the American Rescue Plan was launched, 200 million payments have been sent out, adding up to more than $93 billion. Payments have been sent out once a month since July.
