Parents with child dependents have until Nov. 15 to sign up for advance monthly child tax credit payments.
Under the American Rescue Plan, the child tax credit provides eligible families with monthly payments of up to $300 for each child under age 6 and $250 for each child ages 6-17. Since July, the program has helped provide $61 billion dollars to American families. Surveys have shown the payments helped middle-class families with costs related to food, clothes, school and daycare, according to a release from the U.S. Department of the Treasury.
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Parents who have not yet filed tax returns for 2019 or 2020 have until Nov. 15 to apply. Families who have already filed tax returns automatically receive the monthly credits. Code for America’s non-filer signup tool is available for parents to apply on their mobile phones or in Spanish.
Eligible families include those who earned at least $24,800 as a married couple, $18,650 as a Head of Household, or $12,400 as a single filer. Applicants must also provide social security numbers for all family members; a reliable email address, phone numbers, and bank account information.
Families are eligible as long as they make below $75,000 or less for single filers and married persons filing separate returns, $112,500 or less for heads of household, and $150,000 or less for married couples filing a joint return and qualifying widows and widowers, according to the IRS.
The tax credits will end on Dec. 15 unless Congress extends the program. Applicants who sign up before Nov. 15 will receive either two payments in November and December or a lump sum in December. Those who miss the deadline are still entitled to the payments and will receive full credit after filing for 2022 taxes.
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“Since July, the advance Child Tax Credit has provided monthly direct assistance to families to help them cover basic household essentials like food and childcare,” Deputy Secretary Adewale Adeyemo said in a release. “It’s clear this tax relief is meaningfully improving the lives of children in every corner of the country, which is why Congress must act to extend it so these monthly payments don’t end after December.”
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