The Child Tax Credit will start being sent out on July 15th. Almost all working families will start seeing $250 to $300 per child. This payment will either be automatically deposited in their bank accounts or sent to you directly via. We found the frequently asked questions regarding the #ChildTaxCredit:
What’s happening?The American Rescue Plan increased the #ChildTaxCredit payments from $2,000 per child to $3,000 per child for children over the age of six and from $2,000 to $3,600 for children under the age of six — and made the payments automatic and monthly for most.
Who qualifies for the payments?Nearly all families with kids will qualify. Couples making less than $150,000 and single parents making less than $112,500 qualify for the full benefit. Those with higher incomes may qualify for a smaller benefit or no benefit.
Do I have to do anything to get the payments?Nearly all working families with kids will get the Child Tax Credit automatically. If you filed your 2019 or 2020 tax return, or if you signed up for stimulus payments using the IRS’s Non-filer tool last year, you’re all set.
What if I didn’t file taxes?For those who didn’t earn enough income to be required to pay taxes, you can use the Non-Filers tool to sign up for the Child Tax Credit.
If you’re late filing taxes, you can still file a return to get monthly Child Tax Credit payments in 2021.
Can we get these benefits after 2021?The new Child Tax Credit enacted in the American Rescue Plan is only for 2021 — but President Biden’s American Families Plan proposes extending the credit for years and years to come.
Learn more about the #ChildTaxCredit and spread the word at childtaxcredit.gov