Expedient Tax Services, LLC
Expedient Tax Services, LLC
2021 Child Tax Credit Stimulus Payments
2021 Child Tax Credit Stimulus Payments
How much will I get and when?
How much will I get and when?
By now, millions of American families have received monthly advance Child Tax Credit payments, which will continue into December. You may think you’re all set knowing how much you’ll get each month. But how will the Child Tax Credit changes affect your 2021 tax return? And, should you be doing something now with your Form W-4 to account for these changes to avoid a surprise at tax time?
Child Tax Credit: Changes and Impacts
Child Tax Credit: Changes and Impacts
New 2021 Child Tax Credit and Advance Payment Details
New 2021 Child Tax Credit and Advance Payment Details
Child Tax Credit amounts will be different for each family
Child Tax Credit amounts will be different for each family
- Ages five and younger is up to $3,600 in total (up to $300 in advance monthly)
- Ages six to 17 is up to $3,000 in total (up to $250 in advance monthly)
2. Your amount changes based on your income. You’re eligible for the full amount if your Modified Adjusted Gross Income is under:
- $150,000 for Married Filing Jointly or Qualified Widow(er)s
- $112,500 for head of household filers, and
- $75,000 for single and Married Filing Separate