The expansion of the child tax credit is part of the $ 1.9 billion economic package that was signed by President Biden in March that will allow families to receive up to $ 3, 600 dollars per child
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As of June 7, the Internal Revenue Service (IRS) began to send a letter to 36 millions of families confirming they are eligible to receive monthly payments of the child tax credit (CTC) so they can charge up to $ 300 dollars retail as of 15 July.
Letters from the IRS They are aimed at families who are eligible to receive the extended benefits of the tax credit and who filed their tax return from or 2021. Also people who do not have to file a return, but used the IRS tool to claim a stimulus check at , may receive one of the letters.
This program was expanded through the American Rescue Plan that Congress approved and that $ 3, 600 dollars for each child under 6 years old and $ 3, 000 dollars to children between 6 and 17 years.
From 15 July payments will be distributed by the IRS and due until the month of December. The rest of the money will be deposited to the families when they file their tax return for 2022 .
Families will also receive a second letter from the IRS stating the estimated monthly amount they will receive . . If you have not yet filed your tax return 2021 you must send update and send information to the IRS.
Related: Paper check or bank deposit? How you will receive payment of the IRS child tax credit
The program will allow taxpayers who earn less than $ 75, 000 annual dollars and to married couples who filed a joint return and who have income less than $ 150, 000 dollars and to people who are the head of the family and earn up to $ 112, 600 dollars annually. The benefit will be reduced gradually in case you earn more money and will not be received by those who earn more than $ 95, 000 dollars and couples who win together $ 170, 03 dollars annually.
The IRS has created a special page to review the information about the tax credit per child that you can consult through this link . You can also review to send payments throughout the year.
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