Dear friend,
Next month, many families will start to see monthly Child Tax Credit (CTC) payments hitting their bank accounts automatically. And I want every family who qualifies and wants to receive their benefit monthly rather than as a lump sum to take advantage! For families who typically don’t have to file a tax return, the IRS has created a new online portal for people to submit their information to get their payments. You can even submit your bank account information so that you can receive this cash through direct deposit. This portal also allows you to submit your information to recover missed stimulus checks.
Families who qualify for CTC payments can receive up to $300 a month per child under age 6 and up to $250 per child age 6 through 17. This cash could come in handy for bills, and I don’t want anyone to leave it on the table! Please share this information with anyone who could be eligible.
Keep in mind you only need to use this portal if you did not file a 2019 or 2020 tax return and didn’t use the online portal to receive a stimulus check. Find more information on how to submit your information through the portal and eligibility criteria here. Additional information is available on the IRS Advance Child Tax Credit 2021 page here.
These CTC payments were included in the American Rescue Plan aka, the last stimulus bill, which I proudly supported. I am working to make these credits permanent so that people can receive long-term support to help with the high cost of raising children.
Your friend,
Gwen