What is the Expanded Child Tax Credit?
To help families meet their children’s basic needs, Congress expanded the Child Tax Credit (CTC) for 2021. Families will receive a total of $3,600 per child up to age 5 and $3,000 per child 6 to 17. The IRS paid out up to half of this credit in monthly payments between July and December 2021. If your child is eligible for the CTC and you received monthly payments in 2021, you will receive the second half of your credit when you file your 2021 taxes in early 2022. If your child is eligible for the CTC and you didn’t receive any advance monthly payments in 2021, you will receive the FULL CTC amount when you file your taxes.
For more information about the Child Tax Credit read the resources below: