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darla123456789
New Member

Babies born in 2021 claim the credit?

How can parents of babies born in 2021 claim the credit?

1 Best answer

Accepted Solutions
JoeD_CPA_CFP
Employee Tax & Finance Expert

Babies born in 2021 claim the credit?

Hi,

Thanks for your question! If your newborn child wasn't reported to the IRS by July 2021 (or your due date is after this month), you have a couple of options for receiving subsequent payments.

 

First, you could wait until you file your return next year and receive the entire child tax credit in one lump sum or, if you'd like to receive monthly payments this year, there's another option. The IRS has set up two online portals. The Child Tax Credit Update Portal will allow taxpayers to report any change in status (dependents, income) throughout the year. These families will be able to use the portal to make sure their information is correct, including adding any 2021 babies as qualified dependents.

 

Because payment eligibility is based on your child's age on Dec. 31, monthly checks will not be prorated. All children (who meet all other qualifications) born on or before Dec. 31, 2021, will receive the full $3,600 tax credit. And parents of twins can get up to $7,200. The only variation will be in the timing of each check.

 

Here are few examples:

 

Babies and children born before 2021: You don't have to do anything to receive child tax credit payments (unless you don't usually file taxes at all).

Babies born between Jan. 1-July 31, 2021: If the child was reported to the IRS before the first check was sent in July, checks will follow the usual timeline shown in the chart below. However, the IRS won't include an option to add new dependents in the portal until late summer or early fall.

Babies born between July 1-Nov. 30, 2021: If some payments have already gone out by the time you're able to register or update your information, you'll receive all subsequent monthly payments, with the remainder coming with your tax return next spring.

Babies born in December 2021: After the last check is sent, you will no longer need to use the web portals. Instead, you'll receive the full $3,600 amount when you file taxes in 2022 and claim your new dependent there.

Babies born in 2022 and beyond: Unless the expanded child tax credit is extended, parents of 2022 babies will not be receiving monthly checks or the full 2021 amount of $3,600. That means a baby born on Dec. 31 is eligible, while a baby born Jan. 1, 2022 is not.

 

Here is the link to the IRS website:😎

Click here

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4 Replies
xmasbaby0
Level 15

Babies born in 2021 claim the credit?

Later in the summer there will be a portal to enter information for your 2021 baby.   You will need the child's Social Security number.   The portal is not working yet to enter children born in 2021---try in August or September.

 

https://www.irs.gov/credits-deductions/advance-child-tax-credit-payments-in-2021

 

 

https://www.irs.gov/credits-deductions/2021-child-tax-credit-and-advance-child-tax-credit-payments-t...

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
JoeD_CPA_CFP
Employee Tax & Finance Expert

Babies born in 2021 claim the credit?

Hi,

Thanks for your question! If your newborn child wasn't reported to the IRS by July 2021 (or your due date is after this month), you have a couple of options for receiving subsequent payments.

 

First, you could wait until you file your return next year and receive the entire child tax credit in one lump sum or, if you'd like to receive monthly payments this year, there's another option. The IRS has set up two online portals. The Child Tax Credit Update Portal will allow taxpayers to report any change in status (dependents, income) throughout the year. These families will be able to use the portal to make sure their information is correct, including adding any 2021 babies as qualified dependents.

 

Because payment eligibility is based on your child's age on Dec. 31, monthly checks will not be prorated. All children (who meet all other qualifications) born on or before Dec. 31, 2021, will receive the full $3,600 tax credit. And parents of twins can get up to $7,200. The only variation will be in the timing of each check.

 

Here are few examples:

 

Babies and children born before 2021: You don't have to do anything to receive child tax credit payments (unless you don't usually file taxes at all).

Babies born between Jan. 1-July 31, 2021: If the child was reported to the IRS before the first check was sent in July, checks will follow the usual timeline shown in the chart below. However, the IRS won't include an option to add new dependents in the portal until late summer or early fall.

Babies born between July 1-Nov. 30, 2021: If some payments have already gone out by the time you're able to register or update your information, you'll receive all subsequent monthly payments, with the remainder coming with your tax return next spring.

Babies born in December 2021: After the last check is sent, you will no longer need to use the web portals. Instead, you'll receive the full $3,600 amount when you file taxes in 2022 and claim your new dependent there.

Babies born in 2022 and beyond: Unless the expanded child tax credit is extended, parents of 2022 babies will not be receiving monthly checks or the full 2021 amount of $3,600. That means a baby born on Dec. 31 is eligible, while a baby born Jan. 1, 2022 is not.

 

Here is the link to the IRS website:😎

Click here

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
darla123456789
New Member

Babies born in 2021 claim the credit?

Thank you! I value the answers that experts provide because I know experts are qualified.

darla123456789
New Member

Babies born in 2021 claim the credit?

The expert said the portal is already available.

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