New Child Tax Credit for 30 Million Households
Monthly payments this July.
Most families, even those with little to no income, can receive the full child tax credit amount. If you are a single parent making less than $112,500 or a married couple making less than $150,000 – and have children under age 18 who will live with you for more than half of 2021, you are likely eligible. These benefits do not affect your eligibility for other federal benefits like SNAP. This is a new increase to the Child Tax Credit by the IRS paying half of the credit as monthly payments now and the other half when you file your taxes.