The whole payment schedule may be seen here.
Because to changes to the United States’ child tax credit system for 2021, most eligible families will get half of their child tax credit money in advance, before receiving the other half in 2022 during tax season. Three payments have already been sent, and the fourth will be paid out on October 15.
How many child tax credit advance payments are there?
There are a total of six advance payments, with a maximum of $300 per kid under the age of five and a maximum of $250 per child between the ages of six and seventeen.
The first three installments were paid on July 15, August 15, and September 15, respectively, with the fourth payment due on October 15. Before the second half of the child tax credits is given in April 2022, payments will be paid on the same day in November and December.
Payment schedule for the child tax credit in 2021:
- 15th of July (PAID): Up to $300 or $250, depending on the child’s age.
- 15th of August (PAID): Up to $300 or $250, depending on the child’s age.
- September 15: Up to $300 or $250, depending on the child’s age.
- 15th of October: Up to $300 or $250, depending on the child’s age.
- 15 November: Up to $300 or $250, depending on the child’s age.
- December 15: Up to $300 or $250, depending on the child’s age.
- April 2022: Up to $1,800 or $1,500, depending on the age of the kid
Who is eligible for child tax credit advance payments?
When it comes to clarifying who qualifies for these advance payments, the Internal Revenue Service (IRS) provides very clear advice. To be considered, you must meet the following requirements:
- Have you filed a tax return for 2019 or 2020, or have you provided information via the Non-Filers: Non-Filer: Enter Payment Information Here tool or Tool to Submit Your Information
- Have a primary residence in the United States for more than half of the year or filed a joint return with a spouse who has a primary residence in the United States for more than half of the year
- Have a kid that will be under the age of 18 by the end of 2021 and has a valid social security number
- Have earned less than a specific amount of money
Even if you satisfy all of these requirements, you may still opt out of these advance payments in order to get the whole amount of the child tax credit in one single sum in 2022.