If you haven’t registered for the Child Tax Credit, there is still time.
On July 15, the first advance monthly payments of the Child Tax Credit will begin to hit the bank accounts of eligible families. Those who qualify for the full amount will receive half ($1,800) of the full $3,600 amount in monthly payments lasting through December.
For most, these payments will come automatically. If you filed your 2020 taxes, the IRS will determine your eligibility. Those who qualify for the credit should have received a letter in the mail from the IRS with more information.
If you have not received a letter yet, fret not — there is still time to register to get the benefit.
The first step is to log on to the IRS Child Tax Credit Portal.
Then, scroll down to the bottom of the page and click on “Manage Advance Payments” — this is the actual portal itself. From here you can do a number of things in terms of maintenance to your account, one of them is to check if you’re eligible.
You will then need to follow the prompts to see if you are enrolled to receive payments. If not, there are some steps you can take.
If you see that you are not enrolled on the portal, but believe you might be eligible, it might be because you need to update your information with the IRS using one of the portals they have set up for the child tax credit.
If you did not file a tax return, do not plan to or do not make enough money to file you are still eligible for the money. Simply use the non-filer CTC Portal here to register yourself for the child tax credit benefit.
Depending on how long it takes to process your information, you might still be able to receive August’s payment and the subsequent monthly payments thereafter. The credit is available to families who make $75,000 or under filing single and $150,000 and under filing jointly who have qualifying dependent children. Full benefit amounts will be given for each child under 6 years of age, and ages 6 and above will receive phased-out payment amounts.
More From GOBankingRates