CLEVELAND (WJW) — If you’re wondering why your advance child tax credit payment was smaller in October, it goes back to that technical glitch in September. You can expect it to impact your November and December payments, too, and here’s why.
This technical issue with September’s payment caused fewer than 2% of child tax credit recipients not to receive their payment on the scheduled payment date.
It happened to taxpayers who recently updated their bank account or address in the IRS Child Tax Credit Update Portal.
And even more specifically, it happened to married taxpayers filing jointly when only one spouse made a bank account or address change.
This caused payments to split into two, between the existing account or address and the new account or address.
In some of these cases, the split payment caused the delay and the payment was slightly higher than the correct amount in September.
Here’s the statement from the IRS regarding this split payment:
To correct this overpayment, the IRS says each spouse should expect to see a smaller payment in October, November and December.
The typical overpayment was $31.25 per child between 6 and 17 years old and $37.50 per child under 6 years old. This will result in about a $10 to $13 reduction per child in the three remaining monthly payments.
The remaining payments are set for November 15 and December 15.
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