Already marked July 15th on your calendar? Here's what you need to know about the 2021 Child Tax Credits Schedule, Payment Amounts, and IRS Portals.Next week, parents who are eligible for the federal child tax credit extension will see their first advance of $ 250 or $ 300 per child. This money is intended to help taxpayers support their families. xo A couple of new IRS resources allow parents to prepare, including an Online Eligibility Verification Tool and another Up Payment Management Tool - this is for families looking to opt out of the Monthly Payments program. If your household income does not meet tax filing requirements and you have never filed a 2019 or 2020 tax return, you may need to file your tax return as soon as possible or use the IRS nonfiler tool. Parents who are concerned that the IRS may pay off too many upfront loans this year, leading to a possible (but hopefully unusual) tax refund scenario in 2022, can read about what a child tax credit means for next tax season.
