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2021 Child Tax Credit calculator: How much could you receive?
ABC News
2021 Child Tax Credit calculator from ABC News' data journalism team. How much will you recieve from the Child Tax Credit, part of President Biden's American Rescue Plan.
The vast majority of American families with children will automatically receive up to $300 per month, per child beginning July 15, the IRS and Treasury Department announced last month. The IRS said families who qualify for the Child Tax Credit, which was expanded as part of President Joe Biden's $1.9 trillion American Rescue Plan, will receive monthly payments without taking any further action. Initial eligibility will be based on 2019 or 2020 tax returns. The changes increased the child tax credit from $2,000 to $3,000 for children over 6, and to $3,600 for children under 6. According to the IRS: "For tax year 2021, the Child Tax Credit is increased from $2,000 per qualifying child to: $3,600 for children ages 5 and under at the end of 2021; and $3,000 for children ages 6 through 17 at the end of 2021."More Related News