New Child Tax Credit gives families extra $250-$300 per month, from July-December 2021

(July 2021) Beginning July 15, 2021, most families with children began receiving monthly installments of the Child Tax Credit. Payments will be made monthly through December 2021. Families who are eligible will receive $250 per month for each child age 6-17 and $300 per month for children younger than 6.

The maximum credit is available to taxpayers with a modified adjusted gross income of:

  • $75,000 or less for single filers and married persons filing separate returns.

  • $112,500 or less for heads of household.

  • $150,000 or less for married couples filing a joint return and qualifying widows and widowers.

For tax year 2021, qualifying families claiming the Child Tax Credit will receive:

  • Up to $3,000 per qualifying child between the ages of 6 and 17 at the end of 2021.

  • Up to $3,600 per qualifying child under age 6 at the end of 2021.

A new Non-filer Sign-up tool is also available at the IRS website. The non-filer portal is also available for single individuals and people experiencing homelessness. Individuals can provide their information to the IRS so that they can receive any of the three Economic Impact Payments (EIPs), also known as “stimulus payments,” that they may be missing. If an individual did not get the full amounts of the EIPs, they may use this tool if they:

  • Are not required to file a 2020 tax return, didn’t file a 2020 tax return, and don’t plan to, and

  • Want to claim the 2020 Recovery Rebate Credit (which covers the first and second EIPs) and get their third EIP.

More information:

Further reading:

  • "Families paying off rent, food, debts with child tax credit" | Pittsburgh Post-Gazette / Associated Press | July 31 | bit.ly/3ffT938

child tax creditMarion Fraley