Monthly Child Tax Credit Payments from IRS Begin
Is it too late to get a child tax credit payment?
From the Internal Revenue Service, millions of American families started receiving Child Tax Credit payments on July 15, 2021. These payments were authorized under the American Rescue Plan.
Monthly direct deposits have already begun depositing into some families’ bank accounts. Other families have received checks by mail. (About 86% were sent by direct deposit.)
As we understand, the IRS will not levy these payments to pay back taxes.
These payments will continue monthly. When do tax credit payments begin? Expected additional payment dates are Aug. 13, Sept. 15, Oct. 15, Nov. 15, and Dec. 15.
What If I Have not Filed any Tax Returns in a Long Time?
For those families who normally are not required to file a tax return, IRS suggests that you look at the resources available on IRS.gov.
Business owners may also qualify, but you still must file the required tax returns. If you simply have not filed for a long time, you may have other problems. But start here. These short videos answering Frequently Asked Questions are helpful.
Use these tools to help determine your eligibility for this Child Tax Credit payment. To register for the monthly payments, these online resources can also help you file a simplified tax return. There may also be Economic Impact Payments, and other credits you may be eligible to receive.
Each monthly payment includes:
- Up to $300 for each child under age 6. and
- Up to $250 per month for each child ages 6 through 17.
Generally, if you received a payment this month, you will also receive a payment each month for the rest of 2021. Of course, anyone can reject the payments by unenrolling in the benefit.
What Else Should I Know?
Please note these further details:
- Delivery of paper checks by mail can take longer than the direct deposits.
- Automatic payments went to those people eligible, who filed 2019 or 2020 income tax returns.
- Tax returns processed by June 28, including a simplified return from the Non-Filer Sign-Up tool, are reflected in these payments.
False tax returns that result in illegally receiving these payments, or any illegal refund, could be a felony under IRS Tax Code §7206. So be careful.
More up-to-date information is available on IRS’s special “Advance Child Tax Credit 2021” page, at IRS.gov/childtaxcredit2021.