You’re about to start getting $3,600 stimulus payments, but there’s one big problem

[Andy Meek]

Exactly two weeks from today, the first of six new monthly stimulus checks will start arriving in Americans' mailboxes. Or, of course, in their bank accounts, provided they're registered with the IRS. When coupled with a tax credit next year, this benefit will total as much as $3,600 for each eligible child. These expanded federal child tax credit payments stem from the $1.9 trillion stimulus package from back in March, and they're a potential game-changer for families. But there's an important new stimulus check update to share about all this. One that many people might not be aware of, and which could turn this windfall into something unpleasant.

Basically, because of the way these payments have been structured, families might actually end up owing money next year -- after they've filed their federal taxes in 2022. Yes, we know -- this was all supposed to help families. Not saddle them with a new tax obligation. So, what gives?

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You’re about to start getting $3,600 stimulus payments, but there’s one big problem originally appeared on BGR.com on Thu, 1 Jul 2021 at 13:33:38 EDT. Please see our terms for use of feeds.

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