Don’t forget the credit for your children
Eligible families across the country are already receiving payments, either by direct deposit or check, for each child they have as part of the Child Tax Credit recently instituted by the federal government. Each payment will be up to $300 per month for each child under age 6 and up to $250 per month for each child ages 6 through 17.
The IRS will continue to issue advance CTC payments on Sept. 15, Oct. 15, Nov. 15 and Dec. 15. If you haven’t filed a tax return or registered with the IRS, now is the time to take action. If you’re not sure you qualify, the IRS has a three-step process that can help. Each step has a free online tool available only on IRS.gov. For more information on who qualifies for the credit and how to get it if you did not file taxes in 2019 or 2020, visit www.irs.gov/credits-deductions/advance-child-tax-credit-payments-in-2021.