{"id":83869,"date":"2021-07-14T19:45:41","date_gmt":"2021-07-14T23:45:41","guid":{"rendered":"https:\/\/tjbdeals.com\/?p=83869"},"modified":"2021-07-14T19:46:13","modified_gmt":"2021-07-14T23:46:13","slug":"on-july-15th-families-will-start-receiving-monthly-checks-as-part-of-the-child-tax-credit-heres-what-you-need-to-know","status":"publish","type":"post","link":"https:\/\/tjbdeals.com\/?p=83869","title":{"rendered":"On July 15th, Families Will Start Receiving Monthly Checks As Part of the Child Tax Credit! Here&#8217;s What You Need To Know"},"content":{"rendered":"<p><span style=\"font-size: 12pt;\">On July 15th, families will begin receiving the monthly child tax credit checks which was part of the most recent <a href=\"https:\/\/www.whitehouse.gov\/american-rescue-plan\/\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline; color: #0000ff;\">stimulus package<\/span><\/a>.<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">This expanded child tax credit will be $3,600 per child under 6 and $3,000 for each child between 6 and 17.<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">The payments will be made out as follows:<\/span><\/p>\n<ul>\n<li><span style=\"font-size: 12pt;\">$300 per month for each child under 6<\/span><\/li>\n<li><span style=\"font-size: 12pt;\">$250 per month for each child between ages 6 and 17<\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 12pt;\">That means that a qualifying family with for example one child under 6 and one child over 6 will receive $550 in monthly payments for six months, starting July 15 and ending December 15. <\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><strong>Do babies born in 2021 qualify?<\/strong><\/span><\/p>\n<p><span class=\"ILfuVd\" style=\"font-size: 12pt;\"><span class=\"hgKElc\">All children born on or before Dec. 31, 2021 will receive the full $3,600 tax credit. Parents of twins in 2021 will get $7,200.<br \/>\n<\/span><\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><strong>Who Qualifies for Cash Payments:<\/strong><\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Anyone with a child 17 or under within the following income limits:<\/span><\/p>\n<ul>\n<li><span style=\"font-size: 12pt;\">$75,000 or less for single taxpayers<\/span><\/li>\n<li><span style=\"font-size: 12pt;\">$150,000 or less for married couples<\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 12pt;\"><strong>How do you claim the money?<\/strong><\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Most families don&#8217;t need to take any action if they want the advance payments this year. If you already filed a 2019 or 2020 federal income tax return (or used the non-filer tool in 2020 to register for a stimulus payment), you&#8217;ll get the credit automatically. <\/span><\/p>\n<p><span style=\"font-size: 12pt;\">You will receive the money the same way you received your stimulus checks and\/or tax refund on your most recently filed return.<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">If you haven&#8217;t filed a tax return, the IRS has setup a <a href=\"https:\/\/www.irs.gov\/credits-deductions\/child-tax-credit-non-filer-sign-up-tool\" target=\"_blank\" rel=\"noopener noreferrer nofollow\" data-component=\"externalLink\"><span style=\"text-decoration: underline; color: #0000ff;\">nonfilers portal<\/span><\/a> where you can enter information about yourself and your dependents so you can claim this credit.<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><strong>Should you opt out of the monthly payments?<\/strong><\/span><\/p>\n<p><span style=\"font-size: 12pt;\">This credit is an advanced payment on the child tax credit which is normally applied on your tax return. Should you not want to receive these advanced monthly payments, you can opt-out and instead receive the entire tax credit when you file your 2021 tax return. You can opt out via this online tool called the <span style=\"text-decoration: underline; color: #0000ff;\"><a style=\"color: #0000ff; text-decoration: underline;\" href=\"https:\/\/www.irs.gov\/credits-deductions\/child-tax-credit-update-portal\" rel=\"nofollow noopener\">Child Tax Credit Update Portal.<\/a><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"mh-excerpt\"><p>On July 15th, families will begin receiving the monthly child tax credit checks which was part of the most recent <a class=\"mh-excerpt-more\" href=\"https:\/\/tjbdeals.com\/?p=83869\" title=\"On July 15th, Families Will Start Receiving Monthly Checks As Part of the Child Tax Credit! Here&#8217;s What You Need To Know\">&#8230;.. Get This Deal<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":83870,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[124],"tags":[],"class_list":{"0":"post-83869","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-tjb-blog"},"_links":{"self":[{"href":"https:\/\/tjbdeals.com\/index.php?rest_route=\/wp\/v2\/posts\/83869","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tjbdeals.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tjbdeals.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tjbdeals.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tjbdeals.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=83869"}],"version-history":[{"count":2,"href":"https:\/\/tjbdeals.com\/index.php?rest_route=\/wp\/v2\/posts\/83869\/revisions"}],"predecessor-version":[{"id":83872,"href":"https:\/\/tjbdeals.com\/index.php?rest_route=\/wp\/v2\/posts\/83869\/revisions\/83872"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tjbdeals.com\/index.php?rest_route=\/wp\/v2\/media\/83870"}],"wp:attachment":[{"href":"https:\/\/tjbdeals.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=83869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tjbdeals.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=83869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tjbdeals.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=83869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}