As part of the American Rescue Plan Act of 2021, qualified families with minor children started receiving their Child Tax Credit payments in July.
Unlike the previous Child Tax Credit, which is applied when families with minor children file their taxes at the end of the year, this Child Tax Credit will be disbursed from July – December 2021.
The new change increases the amount of Child Tax Credit for which a family qualifies. Compared to what was received in the past, families could see an increase of more than $1,000 based on their financial qualifications.
Families with children under six can expect to see an increase from $2,000 to $3,600 per child. Those families with children over the age of six to age 17, the increase will change from $2,000 to $3,000 per child.
Families making up to $150,000 for a couple or $112,500 for single parents per year will receive the full credit.
How to receive the Child Tax Credit
The Child Tax Credit will be automatically calculated and deposited into the accounts of families with minor children if they filed taxes in 2019 and 2020, or signed up for stimulus checks from the Internal Revenue Service (IRS). It is important to note that your monthly payments will be sent to you by mail if you do not currently have direct deposit set up with the IRS.
Lastly, if you were not required to file taxes in 2019 and 2020 because you earned under $24,800 as a couple or $12,400 as head of household, you can still get the benefits. Families in this category can use the IRS’s Child Tax Credit Non-filer Sign-up Tool to apply for the benefits. To access the Sign-up Tool, visit: Child Tax Credit Non-filer Sign-up Tool | Internal Revenue Service (irs.gov)
You will need to provide your child’s Social Security Number and your contact information, such as an email or a mailing address. If you want your Child Tax Credit to be deposited into your account, be sure to provide your banking information
As of now, the Child Tax Credit is only for 2021. You can expect monthly payments on the 15th of each month until the end of 2021.
For more information on the Child Tax Credit, visit: www.whitehouse.gov/child-tax-credit/
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I’m in the same boat I have a 1 yr old daughter that I claimed on my taxes this year and every time I check it it’s says processing I haven’t received no monthly payment.
They said they work with the VA for nonfiller single parent haven’t received nothing
They should of figured this out when they did our tax return this year. But of course there are thousands of single moms and dads, and couples who have children and qualify for the tax credit but are not getting it. The system says pending not receiving at this time.
Wow this is one of the best news i have heard today, i really like what i am reading,
Really wish some light would be shed on the ones of us that did not receive the payments and should have. Are our kids not imoprtant enough? The IRS claimed to go by the 2019 returb that was foled if the 2020 had not been processed but apparently they dont apply that atipulation if you amended your 2020 return as per their instruction. So, millions of us were left out. It seems like it was dpne on purpose.