As written in the American Rescue Plan, important changes to the Child Tax Credit will help many families this summer. Starting in July, families that filed tax returns for 2019, 2020 or signed up to receive a stimulus check from the IRS will get this tax relief automatically. All working families will receive the full credit if they make up to $150,000 for a couple or $112,500 for a family with a single parent. Payments will be:
- $250 per month for every child 6-17 years old; and/or
- $300 per month for every child under 6 years old.
If you are not required to file a tax return, have not provided your information to the IRS, or would like to opt-out altogether, please visit https://www.irs.gov/credits-deductions/advance-child-tax-credit-payments-in-2021 to learn more.
Want to be notified when your tax credit arrives? Sign up for eAlerts today! To set them up, simply log into your online banking, go to the Info Center, and click on eAlerts Subscriptions.
Ravalli County FCU, we get it.