On July 15, the IRS will begin sending checks to about 36 million American families as part of the expanded Child Tax Credit.

The tax credit will provide up to $1,800 in cash to eligible families through December. However, there is a complication that may cause some families to forego the tax credit. 

President Joe Biden signed into law the enhanced Child Tax Credit (CTC) as part of the American Rescue Plan.

It expands the $2,000 credit taken annually when you file your taxes to up to $3,600 per child, with half the amount divided into six monthly payments from July through December and the rest claimed on your 2021 tax return.

The CTC was increased to $3,600 for each child under the age of 6 and $3,000 for each child between the ages of 6 and 17.

The credit previously excluded children who had turned 17 and had a cap of $2,000 per child.

In addition to having children who are 17 or younger by December 31, 2021, families will only qualify for the expanded credit if they fall below certain income thresholds:

  • For single taxpayers, $75,000 or less
  • For heads of household, $112,500 or less
  • In the case of married couples filing a joint return and qualified widows and widowers, $150,000 or less

Earlier this week, the IRS announced it had created a website that allows people to check whether they qualify for the benefit, known as the Child Tax Credit Eligibility Assistant.

To determine whether you'll receive the payments, you'll need either your 2020 or 2019 tax return (if you haven't yet filed for 2020). If individuals do not have a copy of their tax return, they may estimate their eligibility based on their W-2s or 1099s.

Child Tax Credit Eligibility Assistant isn't a registration tool - it only tells people if they are likely to qualify for the payments. 

Parents will receive the following payments:

  • Each child under 6 receives $300 per month
  • $250 per month for each child between the ages of 6 and 17

A qualifying family with two parents who file a joint tax return and have two children under 6 will receive $600 each month for six months, starting July 15 and ending December 15. During the period, they will receive $3,600 from the IRS for their two children.

LOOK: Here is the richest town in each state

Just saying the names of these towns immediately conjures up images of grand mansions, luxury cars, and ritzy restaurants. Read on to see which town in your home state took the title of the richest location and which place had the highest median income in the country. Who knows—your hometown might even be on this list.

LOOK: The most expensive weather and climate disasters in recent decades

Stacker ranked the most expensive climate disasters by the billions since 1980 by the total cost of all damages, adjusted for inflation, based on 2021 data from the National Oceanic and Atmospheric Administration (NOAA). The list starts with Hurricane Sally, which caused $7.3 billion in damages in 2020, and ends with a devastating 2005 hurricane that caused $170 billion in damage and killed at least 1,833 people. Keep reading to discover the 50 of the most expensive climate disasters in recent decades in the U.S.

How Many in America: From Guns to Ghost Towns

Can you take a guess as to how many public schools are in the U.S.? Do you have any clue as to how many billionaires might be residing there? Read on to find out—and learn a thing or two about each of these selection’s cultural significance and legacy along the way.


More From KOOC-FM