Higher 2021 Child Tax Credits - Monthly Payments From IRS Beginning July 1st

Описание: When Congress passed the American Rescue Plan stimulus package, they increased the Child Tax Credit that would be available to families in 2021. Not only did that increase it but the IRS will also be advancing part of the credit to eligible individual in the form of monthly payments beginning July 1, 2021. Here are the highlights:

• Children age 17 are now eligible for the full credit
• Children age 6 – 17: $3,000 Credit
• Children under age 6: $3,600 Credit
• IRS will advance 50% of estimated amount beginning July 1, 2021
• Has a clawback provision (Be careful!!)
• Income Limitations

Child Tax Credit Calculator: https://www.kiplinger.com/taxes/60233...

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