Child Tax Credit

What is the Advance Child Tax Credit?

The Advance Child Tax Credit is a new option for the Child Tax Credit (CTC). Beginning this July, families who claim the Child Tax Credit will receive monthly deposits, or paper checks, directly from the IRS! 

Thanks to the American Rescue Plan Act, the CTC has been increased for 2021. Families claiming the CTC will receive up to $3,000 per qualifying child between the ages of 6 and 17 and $3,600 per qualifying child under the age 6 at the end of 2021.

 

Things to know about the CTC

Taxpayers can benefit from the credit even if they don’t have earned income or don’t owe any income taxes.

Didn’t file your 2020 taxes yet? It’s not too late! File now to claim your increased Child Tax Credit and other credits like the federal EITC, CalEITC and Young Child Tax Credit.

The IRS will use the information from your 2020 or 2019 taxes to send your payments automatically.

Frequently Asked Questions

 

What if my information has changed since I filed my taxes?

There is an online portal (coming soon) to update your information if you’ve moved, have a new bank or things have changed.

What if I don’t want to receive the monthly payments and want the whole credit at tax time?

Families will have the opportunity to opt-out of monthly payments and receive their credit when you file your 2021 taxes next year. A separate portal will be available to make these changes. More information will be available soon.

Are there income limits?

Yes. The credit increase is reduced for higher incomes. The increased amounts are reduced for incomes over $150,000 for married taxpayers filing a joint return and qualifying widows or widowers, $112,500 for heads of household, and $75,000 for all other taxpayers.

What if I didn’t file my taxes in 2019 or 2020? Am I still eligible?

Yes! One of the online portals will allow folks who did not file to submit their information to the IRS.

My child doesn’t have a Social Security Number (SSN), do I still qualify for the CTC?

Unfortunately, no. Your child has to have a SSN for you to qualify for the CTC.

My child has an SSN but I have a Taxpayer Identification Number (ITIN), do I still qualify for the CTC?

Yes! As long as your child has a SSN, you may qualify for the CTC.

For more information please visit IRS.gov and WhiteHouse.gov

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