As summer approaches, many residents across the U.S. are preparing for a significant financial boost. Starting soon, eligible individuals may receive up to $6,500 deposited directly into their bank accounts — but the deadline to claim this money is fast approaching on June 4. If you qualify, this is your chance to secure extra funds that could help with bills, groceries, or savings.
Here’s what you need to know to make sure you don’t miss out.
What Is This $6,500 Payment?
This payment is part of the latest government relief effort designed to help families and individuals cope with rising living costs and economic uncertainty. According to the Internal Revenue Service (IRS), many Americans will receive an advanced tax credit or stimulus payment reflecting adjustments to the Child Tax Credit, Earned Income Tax Credit, or other federal relief programs.
IRS officials explain that eligible taxpayers who meet certain income and family criteria could receive payments totaling up to $6,500 per household. This includes up to $3,600 per child under 6 years old and up to $3,000 per child aged 6 to 17, depending on eligibility.
For those who haven’t received their full payments yet, the IRS is processing supplemental payments to ensure the correct amounts reach families.
Who Qualifies and How Much Will You Get?
The exact amount depends on your income, family size, and filing status. Here’s a quick overview:
| Eligibility Criteria | Payment Amount |
|---|---|
| Income under $75,000 (single filer) | Up to $6,500 total payment |
| Income under $150,000 (married filing jointly) | Up to $6,500 total payment |
| Per child under 6 years old | Up to $3,600 per child |
| Per child 6 to 17 years old | Up to $3,000 per child |
If you didn’t receive the full payment last year, or if your income changed, you might still qualify for additional money through the IRS’s “Recovery Rebate Credit.” Tax experts recommend filing your 2024 taxes promptly to claim any remaining payments.
The IRS provides a helpful tool for estimating payments at Child Tax Credit Update Portal.
Deadline and How to Ensure You Receive Your Payment
The critical deadline to act is June 4. After this date, the IRS may not issue additional payments for 2024. To receive your funds, make sure:
- Your bank account information on file with the IRS is current.
- You have filed your 2024 tax return, or you use the IRS Non-Filers tool if you don’t normally file taxes.
- You have checked the IRS Child Tax Credit Update Portal for updates and payment status.
What Should You Do If You Miss the Deadline?
If you miss the June 4 deadline, there may still be options to claim some money when you file your 2024 taxes next year. However, acting now ensures you get the funds sooner and helps avoid delays.
Tax professionals suggest reviewing your eligibility and tax filing status as early as possible to avoid last-minute issues.
Stay informed and follow us for more updates on government programs and money-saving tips this year. You can also explore our coverage on upcoming tax deadlines and financial relief efforts nationwide.
