How to get your child tax credit paid if you don’t file tax: what non-filers need to know
If you’re one of the millions of people who don’t have to file taxes –– the IRS has a different way of handling your up to $ 3,600 per eligible child. If you filed a single tax return before the May 17 deadline (even though you usually don’t), you shouldn’t do anything else to receive the first payment in July. But non-filers who haven’t taken this extra step will have extra work to do.
The first child tax credit check is expected to arrive on July 15 forwith . The amount you receive depends on your income, the number of children you have and their ages – you can before sending payments.
We’ll walk you through everything you need to know if you typically don’t file your taxes. Also here isif you just want a big check. We also have ideas for When it happens.
Use the IRS portal to update your information
thein July to help people who do not normally file their taxes. The portal is expected to allow non-tax filers to submit a simplified electronic form to notify the IRS of the number of children they have and their ages. – so that they can get the correct payment amount. It would also help people who do not have a bank account, as well as people who are homeless.
A second portal will also be available to help families who need to notify the IRS of any life change, such as a change in income. This will also allow families.
Since the IRS bases payments on 2020 income tax returns or 2019 income tax returns, you will need to file a simple, one-time tax return to get your money, although you are generally not required to do so. In fact, the IRS urges people with children file their taxes as soon as possible to make sure they are getting the right amount of money (see below).
Check your information on the dunning payment portal
While you wait for the IRS portals to open, you can check to see if your information is updated on the Stimulus Payment Portal, said Garrett Watson, senior policy analyst at the Tax Foundation.
If you received a stimulus payment and you are a non-filer, your information should already be registered with the IRS. However, if you notice that some details are wrong, maybe youor gained a new dependent – you will need to make sure the IRS has this information by using the portals when they open.
It’s not too late to file your taxes, but …
It’s not too late to file your taxes if you haven’t already. The deadline was May 17th, but as a non-filer you should be clear since you don’t owe taxes. But note that the IRS generally does not accept direct deposit information if the filer does not have a refund when submitting a tax return, Watson said.
If your are unable to file federal income tax returns electronically (PDF) due to tax preparation software and tax processing settings not accepting $ 0 AGI entries. “is $ 0, the IRS says “individuals in general
You should also know that you are entitled to the child tax credit even if you do not pay tax. This means that taxpayers can get the credit even if they have no earned income or owe no income tax.
To learn more about the Child Tax Credit, here’s what you need to. Plus, here’s when to expect your monthly Child Tax Credit payments and what you need to know about them. .