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March 15, 2021
Question

Child tax credit increase?

  • March 15, 2021
  • 1 reply
  • 0 views

I’m having a hard time understanding the increase of child tax credit. Is it automatically increased to $3,600 per child?  So confused 

1 reply

DoninGA
Employee
March 15, 2021

The increase on the Child Tax Credit is effective with the 2021 tax return, not the 2020 tax return.

March 15, 2021

I’ve read that it could be monthly payments as well? 

DoninGA
Employee
March 15, 2021

@Akjonesie39 wrote:

I’ve read that it could be monthly payments as well? 


Any advance tax payments in 2021 will be handled by the IRS.

See this Kiplinger's website for detailed information on the Child Tax Credit - https://www.kiplinger.com/taxes/602389/families-get-a-3000-child-tax-credit-for-2021