Starting in July, families can receive up to $300 per child per month through the new Child Tax Credit. Join Matt Heatherwick, director of individual tax programs at Accounting Aid Society, to learn how to make sure you get your credit.
You can watch the webinar here.
Through the new Child Tax Credit, families are eligible to receive up to $3,600 per year for each child in their care under the age of 6; and up to $3,000 per year for children ages 6 to 17.
The first half will be paid out in regular monthly payments starting July 2021 through December 2021. Families will receive $300 per month, per child younger than age 6 and $250 per month, per child age 6 to 17.
The second half will be paid at tax time in 2022.
Total benefit payment is based on the family’s income.
The Child Tax Credit does not count as income for federally-funded benefits, including SNAP.
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