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$3,600 Per Child: 2021 Child Tax Credit – Check Eligibility, Payments, and More!

2021 Child Tax Credit Payments and Eligibility Explained

Monthly Payments, Eligibility, and 2022 Tax Season Details

According to CNET, eligible parents received their first advance child tax credit payment on July 15, 2021. These payments will continue monthly through the end of the year. Each child under 6 can qualify for up to $300 a month while children aged 6 to 17 can qualify for up to $250 a month. The rest of the child tax credit will be given during the 2022 tax season. Parents with children 18 and older do not get the monthly payments. However they might get a one-time payment of $500 in 2022. To qualify 18-year-olds must be dependents and those aged 19 to 24 must be full-time college students.

The age of the child determines the overall child tax credit. Younger siblings are eligible for up to $3,600 and older siblings are eligible for up to $3,000. Half of this credit is paid to families monthly the remaining portion is given to them during tax season in 2022. 2021 births or adoptions are eligible for the payments. When the IRS Update Portal becomes accessible parents must update their information there or use it to claim the tax credit on their 2021 tax return. The child tax benefit is not available to co-custodial parents. For at least half of the year the child must reside with the parent who is claiming the credit. There are several exceptions such as brief absences for illness, school, work, vacation or military duty. In 2021 a newborn is also deemed to have lived with the parent for the entire year. Like other children children with disabilities are eligible for the child tax credit. If parents have paid for the care of a qualifying dependent so that they can work they are also eligible to get the child and dependent care credit.

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$3,600 Per Child: 2021 Child Tax Credit – Check Eligibility, Payments, and More! (PHOTO: Forbes)

Eligibility for US Citizens, Adopted Children, and Advance Payments

Furthermore, only children who are US citizens with Social Security numbers qualify for the child tax credit. Adopted children must also have a Social Security number. This differs from the third stimulus check where mixed-status households could receive a check if only one member had a Social Security number. Parents can check their eligibility, calculate their estimated total payments and get more information using the IRS portals. They can also choose to unenroll from advance payments if they prefer to claim the full credit during tax time in 2022.

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