What’s the Expanded Child Tax Credit?
To help families get through the COVID-19 pandemic, the American Rescue Plan expanded the Child Tax Credit (CTC). It will give most families $3,000 to $3,600 per child, even if the families have little or no income.
In 2021, families can get:
- $3,600 ($300 a month) per child for children ages 0 to 5
- $3,000 ($250 a month) per child for children ages 6 to 17
The IRS should start paying these benefits monthly in July 2021. Most families will get $250 to $300 a month per child from July through December 2021. Families will get the remaining $1,500 to $1,800 per child when they file their 2021 taxes in spring 2022.
The Child Tax Credit will NOT affect your Medicaid, SNAP/Food Stamps, TANF Cash Assistance, SSI, or other public benefits.
Is My Child Eligible?
To be eligible, children must:
- Have a Social Security Number
- Live with you for at least half of the year
- Be under age 18 as of December 31, 2021
Eligible children include adopted children, step-children, half-siblings, foster children, grandchildren, nieces or nephews, or certain other relatives. The adult filing taxes must have a Social Security Number or an Individual Taxpayer Identification Number.
You do not need to have any earning to get this credit. Families will qualify for full credit if their income is below $75,000 for single filers, $112,000 for people filing as head of household, or $150,000 for people who are married and filing jointly.
What do I need to do?
Eligibility is based on your 2020 or 2019 tax return. If you already filed your 2020 or 2019 tax return and are eligible, you will generally receive automatic payments without needing to take any additional action.
You must take action if you have NOT filed your 2020 tax return or 2019 tax return!
*This simplified tax return will allow individuals to register for advance Child Tax Credit payments and the third Economic Impact Payment, as well as claim the 2020 Recovery Rebate Credit. For full details, visit: https://www.irs.gov/credits-deductions/advance-child-tax-credit-payments-in-2021
For more information, please click on the link: Child Tax Credit Relief Informational Sheet
Para obtener más información, por favor haga clic en el enlace: Hoja de información sobre el credito de alivio de impuestos por hijos