Raising kids can be expensive, and the Child Tax Credit is here to help provide extra cash to Atlanta Public Schools’ families with children.
Thanks to President Joe Biden’s American Rescue Plan, which has increased the amount of the 2021 Child Tax Credit to support families with children, the full benefit of the Child Tax Credit is now $300 per month per child under age 6 and $250 for each child ages 6 to 17. Monthly payments began on July 15, 2021.
Here is everything families need to know to take advantage of the Child Tax Credit:
Did you file taxes in the last two years? If so, you don’t have to do anything to get the money you’re already owed!
If you filed your 2020 taxes this year or filed your 2019 taxes last year, or used the IRS “Non-Filer Porteal” to get a stimulus check last years, you don’t need to do anything. The IRS will automatically send you a monthly parement by director depost or check starting on July 15, 2021.
The Child Tax Credit is $3,000 to $3,600 per child with advanced monthly payments.
In order to get money to families quickly, the IRS will pay half of the credit as monthly payments now and the other half when you file your taxes next year. In total, you’ll receive a total of $3,600 for each child under 6 and $3,000 for each chhild between 6 and 17.
Didn’t file taxes in the last two years? There’s one easy step to start getting your Child Tax Credit payments.
Just fill out a simple form to begin receiving your month Child Tax Credit payments. You can access it by going to www.childtaxcredit.gov.
All you’ll need to apply are:
A reliable mailing address
Your children’s Social Security Numbers
Your bank account information (if you want to receive your payment by direct deposit)
As for eligibility, most families, even those with little to no income, can receive the full amount. If You are a single parent making less than $112,500 or a married couple making less than $150,000 – and have children under age 18 who will live with you for more than half of 2021 – you are likely eligible for the full benefit. These benefits do not affect your eliebility for other federal benefits like SNAP.
Learn more and check out resources to help you fill out your form at www.childtaxcredit.gov.