The last Child Tax Credit monthly payment of the year is set to arrive for millions of families in the United States on December 15 if you have signed up to receive it by direct deposit, otherwise you should expect to receive it in the mail before the end of the month.
The monthly payments have been sent out since July, and after the December check lands, the second half of the Child Tax Credit payment will be sent out when you file your tax return in 2022.
There are currently talks ongoing about whether to extend the enhanced Child Tax Credit payments beyond 2022, but nothing has been confirmed just yet.
How much will I receive in 2022?
If you have been receiving the Child Tax Credit monthly payments since July, you could be given up to $1,800 for each child aged five and younger, or up to $1,500 for each child aged between six and 17.
However, if you decided out of the monthly payment scheme, you should get the full amount at once, which is up to $3,600 per child. Should there have been any payments missed, either due to errors or because you decided to unenroll, these should be included with your tax refund.
Child Tax Credit future
In Congress, there are currently discussions going on about whether the enhanced Child Tax Credit payments should be extended beyond the end of spring 2022.
November 19, 2021, saw the House Democrats pass the $1.75 trillion Build Back Better program, which would see the enhanced Child Tax Credit payments remain in place for an additional year.
However, this does not mean that it is set in stone, as the Senate must now make a decision on the bill.
Congress is likely to come to an agreement when it comes to extending the Child Tax Credit enhanced payments before the end of the year, but the House and Senate may not come to a decision until 2022.