Families: Here’s how to track down your unclaimed child tax credit payment.
Today, Monday, Nov. 5, the fifth round of the child tax credit is being deposited.
As a result, CNBC reports that (dollar)12 billion is expected to be distributed to 36 million families.
Though it’s possible that some parents aren’t paying their bills.
Here’s what may have caused the payment problem and how they can track it down.
However, according to CNET, there was a glitch in September that affected 2% of households who changed their address or bank account. While this error has since been resolved, some households may have received an overpayment.
As a result, last month’s payment, as well as possibly November and December’s, will be subject to change.
In addition, if one of a married couple’s parents changes their address or banking information, it may result in payment errors or delays.
Parents are encouraged to file a trace, especially if they have been waiting for a payment for weeks.
If you haven’t received any payments, you’ll need to update your mailing and banking information through the IRS Update Portal.
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