Updated: Jun 29
IRS Tools Help Families
The American Rescue plan increased the maximum Child Tax Credit in 2021 to:
$3,600 per child under the age of 6, and
$3,000 per child ages 6 through 17.
When and How Much?
The advance Child Tax Credit payments should be paid to families on the 15th of each month.
The first monthly payment should begin on July 15.
Eligible families will receive $300 per month for each child under age 6, and up to $250 per month for each child ages 6 through 17.
The IRS states that most families will automatically receive payments without any further action required from them.
Do I Qualify?
To help families monitor the advance monthly payments, the IRS is providing two online tools:
The Child Tax Credit Eligibility Assistant guides families through a series of questions to determine whether they qualify for the advance credit.
The Child Tax Credit Update Portal allows families to verify their eligibility for the payments and if they choose to, unenroll, or opt out from receiving the monthly payments so they can receive a lump sum when they file their tax return next year. This secure, password-protected tool is available to any eligible family with internet access and a smart phone or computer. Future versions of the tool planned in the summer and fall will allow people to view their payment history, adjust bank account information or mailing addresses and other features. A Spanish version is also planned.