According to AL.com, a recent audit of the American Rescue Plan's child tax credit payments discovered that $3.7 billion was still owing to qualified taxpayers.
It examined the IRS's increase in the child tax credit from $2,000 to $3,600 for each kid under the age of six, and $3,000 for children under the age of 18.
Beginning in July 2021, half of the credit was paid in monthly instalments of $300 or $250.
However, attempts to continue making payments into 2022 were unsuccessful.
Per the audit, the IRS failed to send 8.3 million payments totaling $3.7 billion to 4.1 million qualified taxpayers.
They also distributed over $1.1 billion in payouts to 1.5 million Americans who did not meet the criteria.
If you have a child and did not receive the child tax credit, you should check to see if you are still qualified as the deadline of October 17 approaches.
Gross income must be below $75,000 for singles and $150,000 for married couples to receive the full payout.
If you have a qualifying income, you can claim by filing a 2021 tax return or applying for an extension.