If this is the payment you are referring to, this is all the information we have so far. IRS or the government will issue more information as developed:
Starting in tax year 2021, the Plan increases the Child Tax Credit from $2,000 to:
- $3,600 for each child under 6
- $3,000 for each child age 6–17
It also makes the credit fully refundable, meaning you’ll be eligible to get it even if you don’t owe taxes.
Starting in July, payments for the Credit will be sent in advance so you won’t have to wait to file your 2021 taxes to receive that amount.
You don’t have to do anything to get these payments. The IRS will likely determine eligibility based on your most recent tax filing.
Use this link for more information:
The American Rescue Plan
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