Are You Eligible For The Child Tax Credit? Here’s How To Find Out
The first advance payments of the child tax credit will be deposited on July 15 — here’s how to find out if you’re one of the millions of Americans eligible to receive the money.
Eligible families will receive $300 monthly payments from July through December. In order to find out if you’re eligible, you will need to access the Child Tax Credit Update Portal, which can be found here.
Once you’re there, simply scroll to the bottom of the page where it says “Manage Advance Payments.” By clicking this page, you will access the overall portal. First, you’ll need to sign into ID.Me to verify your identity, and from there you will have access.
After you get to the landing page, scroll down to the section that says “Check If I’m Eligible.” You will be asked a series of questions about your status, such as the number of dependents you are claiming and their ages, your income and your personal information details.
From there, the IRS will determine whether or not you are eligible based on your information.
Alternatively, you can verify whether or not the IRS already has you on their payment schedule to receive your first payment on the 15th. You can do this by accessing the same portal, but instead of clicking through the eligibility section, you will access the Direct Deposit Portal by clicking “Manage Advance Payments.” From there click through “My Profile.”
Although this may seem like a section primarily for bank information, if you are already enrolled, it will say so at the top of the page, as well as display the routing and account number that your payment is scheduled to be deposited. If your bank account information is displayed, and it says you are eligible for payments, then you can expect your first payment to be deposited into the provided bank account.
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