Child Tax Credit

Child Tax Credit

What is the Child Tax Credit?

Starting in mid-2021 through the Advance Child Tax Credit families who claim the Child Tax Credit received monthly deposits, or paper checks, directly from the IRS!

In 2021, the Child Tax Credit was increased thanks to the American Rescue Plan. Families claiming the CTC received up to half of the $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 through monthly payments. The other half can be claimed when you file your taxes.

If you received the Child Tax Credit in 2021, you’ll get Letter 6419 from the IRS to make sure you received the right amount. Don’t lose this letter!  Click here for more information. 

 All Child Tax Credit payments were made between July and December 2021.

 

Things to know about the Child Tax Credit

  • 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 QuestionFrequently Asked Questions

How was the money sent? You may have seen a direct deposit in your bank account from the IRS of up to $300 dollars per child. Or you may have received a check or debit card in the mail.

Do I have to pay this back? Is it a loan? No, it is not a loan. It is an advance of money you would get back from your tax return. The monthly payments equal half of the expected tax credit for each child. You receive the other half when you file your taxes.

What if I don’t qualify for the full Child Tax Credit when I file my taxes next year? Your family’s circumstances may change by the time you file your taxes in 2022, but low-income families are protected from paying back overpayments if they are single filers making less than $40,000, heads-of-household filers $50,000, and married filing jointly $60,000. If you make more than these amounts, you may be required to pay back some funds.

What if I didn’t get the payment? Should I have? If you have children age 17 or younger, filed your taxes in 2019 or 2020 or received one of the three stimulus payments, and make under $75,000 if a single taxpayer, $112,500 as head of household or $150,000 for married couples, you should receive the Child Tax Credit.

When should I have received these payments? Payments were deposited or mailed on July 15, August 13, September 15, October 15, November 15 and December 15.

My child doesn’t have a Social Security Number (SSN), do I qualify for the Child Tax Credit? Unfortunately, no. Your child has to have a SSN for you to qualify for the Child Tax Credit.

My child has an SSN but I have a Taxpayer Identification Number (ITIN), do I still qualify for the Child Tax Credit? Yes! As long as your child has a SSN, you may qualify for the Child Tax Credit.

What if I don’t owe taxes or don’t file my taxes? Taxpayers can benefit from the credit even if they don’t have earned income or don’t owe any income taxes. To claim the Child Tax Credit, you must file your taxes.

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