What is the 2021 Child Tax Credit?

What is the Child Tax Credit?

The Child Tax Credit will help many families get advance payments of the credit starting this summer. The IRS began paying half the total credit amount in advance monthly payments beginning July 15, 2021. You will claim the other half when you file your 2021 income tax return. These changes apply to tax year 2021 only.

Who is eligible for the monthly payments?

  • To qualify for advance Child Tax Credit payments, you—and your spouse, if you filed a joint return—must have:
  • Filed a 2019 or 2020 tax return and claimed the Child Tax Credit on the return; or
  • Given the IRS your information in 2020 to receive the Economic Impact Payment using the Non-Filers: Enter Payment Info Here tool; and
  • A main home in the United States for more than half the year (the 50 states and the District of Columbia) or file a joint return with a spouse who has a main home in the United States for more than half the year; and
  • A qualifying child who is under age 18 at the end of 2021 and who has a valid Social Security number; and
  • Made less than certain income limits.

The IRS uses information you provided earlier to determine if you qualify. If you do, they automatically enrolled you for advance payments.

What if information regarding my bank, mailing address, income or family has changed during 2021?

The IRS launched on IRS.gov a Child Tax Credit Update Portal, which will allow you to elect not to receive advance Child Tax Credit payments during 2021 and/or update your bank account information. More functionality will be added later this year that will allow you to:

  • Update your mailing address
  • Add or subtract the number of your qualifying children, including by reason of the birth or adoption of a child
  • Report a change in your marital status
  • Report a change in your income

For additional information regarding the Child Tax Credit you may visit the IRS.gov.

Do you have a tax problem with the IRS? Help is available!

The Low Income Taxpayer Clinic (LITC) provides free help to low income individuals who have a tax issue with the IRS.

Low Income Taxpayer Clinic

Are you a Hillsborough County renter having housing problems? Help is available!

The Hillsborough County Housing Stability Program provides Hillsborough tenants the knowledge, resources, and services to effectively, efficiently, and amicably solve their disputes with their landlords outside the court system.

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The Legal Information Center is a free program to provide information to people who are representing themselves in Family Law cases in Hillsborough County. Get the information you need to make an informed decision about your case.

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