The 411 on Advance Child Tax Credit Payments in 2021

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Starting tomorrow, July 15, “The IRS will pay half the total [Child Tax Credit] amount in advance monthly payments.” These payments, occurring on the 15th of each month, will be “in the amount of up to $300 a month per child under age 6 and up to $250 a month per child under age 18. These families also will receive an additional Child Tax Credit of up to $1,800 per child under age 6 and up to $1,500 per child under age 18 through their 2021 tax return.”

According to the IRS, you—and your spouse, if you filed a joint return—must meet the following requirements to qualify for the advance Child Tax Credit payments:

• Filed a 2019 or 2020 tax return and claimed the Child Tax Credit on the return; or

• Provided to the IRS your information in 2020 to receive the Economic Impact Payment using the Non-Filers: Enter Payment Info Here tool; and

• A main home in the United States for more than half the year (the 50 states and the District of Columbia) or file a joint return with a spouse who has a main home in the United States for more than half the year; and

• A qualifying child who is under age 18 at the end of 2021 and who has a valid Social Security number; and

• Made less than certain income limits.

For people meeting the above requirements, the IRS will automatically enroll them in the advance payments.

The IRS also provides tools to assist with this advance tax credit:

• Advance Child Tax Credit Eligibility Assistant: Use this online tool to determine your eligibility.

• Child Tax Credit Non-filer Sign-up Tool: Use this tool to provide information if you are not required to file a tax return.

• Child Tax Credit Update Portal: Use this tool to (1) check to see if you are enrolled to receive payments, (2) unenroll from advance payments, or (3) “[p]rovide or update your bank account information for monthly payments starting with the August payment.”

Additional Resources

• Some families should opt out of advance child tax credit payments starting July 15. Here’s why (CNBC)

• Starting July 15: Protecting the Monthly Child Tax Credit Payments from Creditors (NCLC Digital Library)

• Thursday’s child tax credit check for $250 or $300? Calculate your total now (c|net)

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