New Child Tax Credit Coming in July

Coming this July, the new child tax credit payments with periodic disbursements throughout the end of the year. In 2021, the child tax credit increased to $3,600 per child under the age of 6 and $3,000 per child aged 6 to 17.

How will I get the money?

Under the American Rescue Plan, households that qualify for the child tax credit can opt-in to the recurring payments beginning in July through a forthcoming online portal. In order to use the portal, you need to have filed a tax return.

If you don't opt-in to recurring payments, you could claim the maximum credit you qualify for when you file a tax return in 2022.

Click here for more information.

For assistance updating your budget with these payments, please contact the Financial and Housing Counseling program at (320) 650-1680.