Advance Child Tax Credit
Jul 15, 2021
As part of the American Rescue Plan, families will begin to receive advanced payments of the Child Tax Credit. The IRS will pay half the total credit amount in six monthly installments between July and December.
- Full credit is available to married couples with children who file taxes jointly.
- Married couples who have an adjusted gross income less than $150,000 or $75,000 for individuals.
To find out if you are eligible, click here.
Do I need to do anything?
No. If you filed your taxes, the IRS will use your 2020 tax return to determine if you qualify. If you have not yet filed your taxes for 2020, they will use your 2019 tax return.
For those that do not file taxes due to not making enough income but have children that are eligible, should use the Child Tax Credit Non-filer Sign-up Tool.
How much do I receive?
- The maximum credit is $3,600 for children younger than 6 years old.
- The maximum credit is $3,000 for children & teens 6-17 years old.
For families receiving the full benefit, payments will be $300 a month for children under 6 years old and $250 for children & teens between 6-17 years old.
How will I receive my payment?
If you filed your 2019 or 2020 taxes or received a stimulus check, you should get a direct deposit. If the IRS does not have your banking information, you should be receiving a check in the mail.
For more information about the Advance Child Tax Credit payments, please visit the IRS website.