On July 15th, the IRS began sending out monthly Child Tax Credit payments to those who qualify. You may have received a letter if they have determined you qualify for payments. Many people are still unsure of how it works so, I’ll break it down to you in this video. Who Qualifies? In order to qualify for the Child Tax Credit payments, you will have needed to claim the credit previously on a 2019 or 2020 tax return. You MUST have a main home in the US for more than half the year and have a qualifying child under the age of 18 at the end of 2021. As well as making less than certain income limits.

The IRS will use the information provided to them to see if you are eligible and they will automatically enroll you for advance payments.

If you are unsure if you qualify, you can use the Eligibility Assessment tool on irs.gov.

The amount you receive depends on the age of your kids. For children ages 5 and under, you will receive monthly payments of $300 – totaling $1,800. For children ages 6 to 17, you will receive $250 monthly – totaling $1,500. The payments will be disbursed on 15th of every month beginning July through December. Lastly you can choose to opt out and keep the child tax credit for tax time-use the online tool for this.

For more info - use the Eligibility Assessment tool on irs.gov