2021 Child Tax Credit: Are Your Children Eligible for the Full $ 3,600?

As the expansion child tax credit debuts next week, many families still haven’t calculated how much they could get. From July 15 to the remainder of 2021, each eligible dependent under the age of 6 could receive your family for up to $ 300 per month, and each older child could receive your family for up to $ 250 per month. The second half of the child tax credit is paid with the tax refund for the following year. Did you know that it is possible that parents with dependents over the age of 18 can also get money?

You don’t have to wait to find out if you qualify for the child tax credit or calculate the estimated total. We have covered all the bases of the 36 million households that should benefit from it: how check your eligibility, How? ‘Or’ What use IRS portals, how to see if you fulfill the income requirements and how unsubscribe from down payments if you really need (or want) the full credit in 2022 instead.

The extended child tax credit was enacted as part of the same American rescue plan in March. The expansion is temporary, which means there is no guarantee that the same amount of tax relief will come in years to come. However, another boost to families is the increased amount they can claim child care expenses this year – up to $ 16,000. Also, here’s what we know about the odds of a fourth dunning check in 2021. This story has been updated.

Each dependent aged 17 and under: up to $ 3,600 or $ 3,000

If you have dependents who are 17 or under, they can each count for the new child tax credit. However, the amount to which they are entitled depends on their age. Children ages 6 to 17 will count up to $ 3,000 each. Children under 6 can count up to $ 3,600 each.

Families will not receive the full credit amount on July 15, but a portion of the credit. The initial payment for the following month is a down payment of $ 250 or $ 300, depending on the child’s age (see table below). The total of the monthly payments for 2021 will be equal to half of the amount of the credit, the other half of the credit coming next year during the tax period. You can see a payment timeline and more information here.

2021 Child Tax Credit Age Groups

5 years and under	Up to $ 3,600 per child, with half the credit in monthly payments of $ 300
6 to 17 years old	Up to $ 3,000 per child, with half the credit in monthly payments of $ 250
18 years old	Single check of $ 500 in 2022
19 to 24, full-time students	Single check of $ 500 in 2022

Each dependent aged 18-24: Smaller single payment

If you have dependents who are 18 years old, they may be eligible for up to $ 500 each for the amount of the child tax credit you will receive. If you have a dependent aged 19-24 who is attending college full-time, they may also be eligible for up to $ 500 each for your total payment. This payment will come when you file your taxes in 2022.

Each baby born in 2021: up to $ 3,600

If you are expecting a baby before the end of 2021, the newborn will also be eligible for up to $ 3,600. This includes adopted children if they are US citizens (see below). You will be able to use the IRS update portal once this specific feature becomes available later in the summer – or you can claim the tax credit when you file your 2021 tax return in the year. next.

Rules for disabled dependents

Children with disabilities may be eligible for the child and dependent credit separately from the child tax credit. You may be eligible for this credit if you paid expenses for the care of an eligible dependent to enable you to work, by the IRS. The child tax credit would apply equally to children with disabilities.

Rules for parents in shared custody

The “double deduction” benefits for the same child worked for the first two stimulus checks, where a loophole allowed unmarried parents who shared custody to claim the child as a dependent in a specific situation. This is not the case with the 2021 child tax credit. In fact, an overpayment could ask you to return the money to the IRS.

Rules for dependents living with you half the year

If you are claiming the new child tax credit for your child, be aware that the child must live with you at least six months out of the year. However, there are exceptions to this rule, including temporary absences. According to the IRS, “a person is considered to have lived with you during periods when one or both of you is temporarily absent due to special circumstances”, including illness, education, business , vacation and military service.

In addition, a newborn baby born later than 2021 is included in the exception and will be considered to be living with you for the whole year. However, the IRS will be working from the 2020 tax return, which will not have children born in 2021 listed, so be sure to update your information in the IRS Update Portal. when you can later in the summer.

Additional rules for dependents

If your child isn’t a U.S. citizen and doesn’t have a Social Security number, there’s no way around it – they’re not eligible. When you file your individual tax return (Form 1040), you must include your dependents and their social security numbers when you claim the child tax credit.

This includes adopted children. An adopted child who is not a U.S. citizen and has an ATIN or ITIN (adopted / individual tax identification number) will not be eligible for the child tax credit, by the IRS. “The child must have an SSN to be a child eligible for the child tax credit. “

This is different from the third dunning check, where mixed households could receive a check and only one household member had to have a social security number.

Here is more 2021 child tax credit information and details on qualifications for parents to receive payments.