Child tax credit payments: Do you know how much your household will get next month?

Some 36 million families will likely qualify for the child tax credit this year. The IRS is now sending out letters with more details that will help you determine if you’re eligible for the enhanced payments. Even parents of 18- to 24-year-olds stand a good chance of seeing a check next year. But exactly how much you’ll get between 2021 and 2022 depends on how many children you have, how old they are and what your yearly income is, along with a handful of other factors.

There’s also a difference between the amount of money you qualify for in total and how much you can expect over the course of advance monthly installments this year alone. It gets confusing, which is why we’ll help you estimate your family’s total below. The good news is, it could be much more than even the $1,400 stimulus checks, which are still going out.

If you’re not sure the IRS has information on all your kids, read up on upcoming IRS child tax credit portals. We also have details on what nonfilers need to do to get the child tax credit money. As a parent, brush up on how to claim up to $16,000 for child care expenses. Here’s more on a possible fourth stimulus check and what’s happening with states eliminating unemployment benefits early. This story was updated recently.

Calculate how much child tax credit you qualify for here

Enter your adjusted gross income and number of dependents below to calculate your payment. (Our calculator will not store or use your data.) The results you get are based on our current knowledge of the law and should be treated as broad estimates only; the IRS will determine the final amount. We suggest consulting a financial professional for a more personalized estimate...Read more>>


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