Child tax credit 2021: here’s when checks start to flow and which families qualify
Vice President Kamala Harris spoke at a Pittsburgh recreation center as part of a larger campaign to promote the program in partnership with churches, schools and other organizations.
“When more families know how they can get help, this is how we can lift our children out of poverty,” said Harris.
The administration launched the website https://childtaxcredit.gov with details of potential recipients. Under President Joe Biden’s $ 1.9 trillion coronavirus relief program, eligible families can receive up to $ 3,600 for each child under the age of 6. The tax credit will be $ 3,000 per year per child aged 6 to 17.
Philadelphia-area Democrats are also trying to get the message across.
“This is the most important proposal and law to reduce child poverty in the United States since 1965,” said Congressman Brendan Boyle.
Payments are to be made monthly, a first for the program. People can enroll in the program even if they have not fully declared their taxes.
The program is expected to expire after a year, although Biden has offered to extend it until 2025 with the ultimate goal of making it permanent.
Am I eligible for the child tax credit?
Almost all families with children will be eligible. Certain income limits apply. For example, only couples earning less than $ 150,000 and single parents (also known as heads of household) earning less than $ 112,500 will be eligible for the additional amounts of the 2021 Child Tax Credit. receive a smaller credit or may not be eligible for credit at all. For more details on the phase-outs for high-income families, see “How Much Will I Receive in Child Tax Credit Payments?”
Do I need to do anything to make sure I receive my payments?
Most families will not have to do anything to receive child tax credit payments. If you filed taxes this year (your 2020 tax return), filed last year (your 2019 tax return), or signed up for Economic Impact Payments (commonly referred to as “stimulus checks” or “Stimmies”) using the -Last Year’s Deposit Tool, you are set and the IRS will automatically send you monthly payments.
If you didn’t have to file taxes this year or last year, and you didn’t sign up for Economic Impact Payments last year, you can still sign up for Child Tax Credit payments. The good news is that with the IRS Non-Filer Enrollment Tool, you can also request any economic impact payments (“stimulus checks”) that you are entitled to but may not have. not yet received.
When will I start receiving my monthly payments?
People who receive direct deposit payments will receive their first payment on July 15, 2021. After that, payments will be made on the 15th of each month. (In August, payment will be made on August 13, as August 15 falls on a weekend.) If you have not provided the IRS with your bank account information on a recent tax return, you will receive a check. sent around the same time to the address the IRS has for you.
How much will I receive in child tax credit payments?
Most families will receive the full amount: $ 3,600 for each child under the age of 6 and $ 3,000 for each child between the ages of 6 and 17. child under 6 years old and $ 250 per child from 6 to 17 years old.
This amount may vary depending on income. These people are eligible for the full child tax credit:
– Married couples with an income of less than $ 150,000
-Families with a single parent (also called head of household) with an income of less than $ 112,500
-All others with income less than $ 75,000
These people will be entitled to at least $ 2,000 in child tax credit, which works out to $ 166 per child each month:
– Married couples with an income of less than $ 400,000
-Families with a single parent (also called head of household) with an income of less than $ 200,000
-All others with an income of less than $ 200,000
Families with even higher incomes may receive lower amounts or no credit at all.
I haven’t filed taxes for a while. How can I benefit from this advantage?
You may be eligible for child tax credit payments even if you have not recently filed taxes. Not everyone is required to file taxes.
This year, Americans were only required to file taxes if they earned $ 24,800 as a married couple, $ 18,650 as a head of household, or $ 12,400 as a single tax filer. If your total income in 2020 was below these levels, you can sign up to receive monthly child tax credit payments using a simple tool for non-filers available on the website. IRS.
If you think your income in 2020 means you need to file taxes, it’s not too late. You can still file a return for monthly child tax credit payments in 2021, as well as other tax benefits or a refund you can claim. For help completing an overdue return, visit the IRS website.
Where will the IRS send my money?
The IRS will send your direct deposit payments to the bank account they have on file. If they don’t have your bank account information, a check will be mailed to you.
* Information provided by the White House. For more information, CLICK HERE.
The Associated Press contributed to this report.
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