The United States of America is rolling out a $1400 bill on top of tax refund in 2022, to everyone who is either a parent of a child who was born in 2021 or to those who have a dependent in their family.
All thanks to American Rescue Plan, which made the payments available for individuals and their young dependent family members.
Families who have children in 2022 have all rights to claim their Recovery Rebate Credit on their next tax return. If you did not collect the complete amount you were awaiting by 31st December, you can easily claim the remainder of the payment when you submit your tax in the year 2022.
You qualify only when the young dependants are under age 19 at the end of the year or any age if they are permanently disabled. The dependent must be a child, sister, brother, foster child, stepbrother, stepsister, half-brother or half-sister, or a descendent of any of them.
How Much Will You Receive?
If you have been already taking the benefit of Child Tax Credit monthly payments from July, you could be paid up to $1800 for each child up to age five and younger. Above that from age six to seventeen, you could be given $1500 for every child.
You can also receive the full amount at once if you decide on the monthly payment scheme.