Tuesday, June 22, 2021

The Child Tax Credit Is Coming Soon

This is a reminder that on July 1, about 90% of families with children under 18 will be getting between $250 and $300 per child per month for the next year. ($300 for children under 6, $250 for children 6 to 17.)

I admit I didn't quite know this until yesterday when I was reminded of it on a news show. It's part of the American Rescue Act passed in March. (This article has the details.) 

For instance, a family I know that has a 14-year-old, 8-year-old twins, and a 1-year-old, will get $1,050 a month. That's over $12,000 in the year. And it's tax-free. That's some real money that can help to make up for the trauma of the past year.

And remember, every Republican in Congress voted against it, though they'll probably be taking credit for it. 

If a family files taxes, the money should be deposited in their account directly or checks will be mailed to them (depending on how they have done refunds in the past). If you know a family who doesn't have to file taxes, they can file for the payments (which are technically refundable tax credits) on this government website or for a site that's a lot better designed and easier to use, check out this one from the People's Policy Project.

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