Readers,
The 2022 Child Tax Credit is rolling out, and we’re here to provide you with the complete monthly payment schedule. This credit is a valuable resource for families with qualifying children, so make sure you know when to expect your first payment. We’ll cover all the details you need to know, including how much you can expect, what the eligibility requirements are, and when payments will arrive.
Payment Schedule
July 15
The first payment of the 2022 Child Tax Credit was issued on July 15th, 2022. This payment covered the months of July and August.
August 13
The second payment was issued on August 13th, 2022. This payment covered the month of September.
September 15
The third payment was issued on September 15th, 2022. This payment covered the month of October.
Oct 15
The fourth payment was issued on October 15th, 2022. This payment covered the month of November.
Nov 15
The fifth payment was issued on November 15th, 2022. This payment covered the month of December.
Dec 15
The sixth and final payment of the 2022 Child Tax Credit was issued on December 15th, 2022. This payment covered the month of January 2023.
Eligibility
To be eligible for the Child Tax Credit, you must meet the following requirements:
- You must be a U.S. citizen or resident alien.
- You must have a qualifying child who is under the age of 18.
- You must have earned income less than the specified income limits.
Payment Amounts
The amount of your Child Tax Credit payment will vary depending on your income and the number of qualifying children you have. The maximum amount of the credit is $3,600 per child.
Table Breakdown
| Month | Payment Date | Payment Amount |
|---|---|---|
| July and August | July 15, 2022 | 50% of total credit |
| September | August 13, 2022 | 25% of total credit |
| October | September 15, 2022 | 25% of total credit |
| November | Oct 15, 2022 | 25% of total credit |
| December | Nov 15, 2022 | 25% of total credit |
| January 2023 | Dec 15, 2022 | Remaining balance of credit |
Conclusion
We hope this article has provided you with all the information you need to know about the Child Tax Credit 2022 monthly payment schedule. If you have any further questions, please be sure to check out the IRS website or speak with a tax professional.
For more information on other financial assistance programs, check out our articles on:
FAQ about Child Tax Credit 2022 Monthly Payment Schedule
1. When will I receive my first payment?
Answer: July 15th, 2022
2. How much will I receive each month?
Answer: Up to $300 per child under age 6, and up to $250 per child ages 6-17.
3. How will I receive the payments?
Answer: Direct deposit to your bank account or by mail as a paper check.
4. Do I need to file a tax return to qualify?
Answer: No, as long as you meet certain income requirements.
5. When will the last payment be issued?
Answer: December 15th, 2022
6. What ages of children are eligible?
Answer: Children under age 18 as of December 31st, 2021.
7. How can I update my bank account information?
Answer: You can visit the IRS website or call the IRS at 1-800-908-4184.
8. What if I don’t receive a payment?
Answer: You can check the IRS website or call the IRS to verify your eligibility and payment status.
9. Can I receive the remaining payments as a lump sum after December 15th?
Answer: Yes, you can claim the remaining credit when you file your 2022 tax return.
10. Where can I find more information?
Answer: Visit the IRS website or call the IRS at 1-800-908-4184.
