Child tax credit payments start in July: Here's what to know
Monthly payments of the Child Tax Credit starting at $250 per month per child depending on age begin July 15 through Dec. Nearly all families should get their monthly payments automatically with no further action required.
“Child Tax Credit Monthly Payments will help South Texas families provide basic necessities to their children ranging from clothing, supplies, childcare and anything in between. Individuals and families across the nation have felt the economic burden caused by the coronavirus pandemic. I am proud to have supported legislation that will help put money back in the pockets of hardworking families in the district,” said Congressman Filemon Vela.
How much are the monthly payments?
The American Rescue Plan expanded the Child Tax Credit to up to $3,600 per child for children ages 0 to 5 and $3,000 per child for children ages 6 to 17. The American Rescue Plan also authorized advance monthly payments of the Child Tax Credit through December 2021.
Qualifying families can get up to:
- $300 a month per child for children ages 0 to 5.
- $250 a month per child for children ages 6 to 17.
Families will get their remaining expanded Child Tax Credit when they file their 2021 tax returns.
Who qualifies for the monthly payments?
Families will qualify for a 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.
The adult filing taxes must have a Social Security Number or an Individual Taxpayer Identification Number.
If you’ve filed tax returns for 2019 or 2020, or if you signed up to receive a stimulus check from the Internal Revenue Service (IRS), you will get this tax relief automatically.
You do not need to sign up or take any action.
Families who got their refunds from the IRS through direct deposit will get these payments in their bank account around the 15th of every month until the end of 2021. People who don’t use direct deposit will receive their payment by mail around the same time.
Families who did not file a tax return for 2019 or 2020 and who did not use the IRS Non-filers tool last year to sign up for the Economic Impact Payments, should go online and use the IRS Child Tax Credit Non-filer Sign-up Tool.
Families will be able to determine their eligibility, check the status of their payments and more at IRS.gov/childtaxcredit2021 later this month.