Child Tax Credit Payment Schedule For 2021 – Here’s When You’ll Get Your Money

Indian parents helping children with their homework at home.
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The rollout of funds for the expanded child tax credit began on July 15, with the IRS sending out letters to 36 million families believed to be eligible to receive them. Families can expect the next payment to roll out on Sept. 15.

See: Will The Child Tax Credit Affect Your 2022 Taxes?
Find: Didn’t Get Your Child Tax Credit? Here’s How to Track It Down

The letters went out to families who may have been eligible based on information included in either their 2019 or 2020 federal income tax return. Letters will also be going out to those who used the Non-Filers tool on last year to register for a stimulus payment, as the tax credit is available to those who qualify who do not normally file taxes.

The IRS stated that families who are eligible for the CTC will also receive a second personalized letter listing an estimated amount of each of their monthly payments. Most families will not need to take any additional action to receive their payments. That said, if you believe you should qualify but still have not received your letter within the next week, the IRS is also setting up 2 different online portals for you to register and check existing information. If you filed your taxes with outdated information, this could be a reason why you haven’t received a CTC this month, so it is best to make sure your income and number of dependents specifically are updated.

Save for Your Future

Eligible families began to receive payments on July 15. The schedule of payments moving forward is as follows:

  • October 15
  • November 15
  • December 15

See: What To Do If The IRS Child Tax Credit Portal Isn’t Working
Find: Spanish-Speaking Parents Can Now Sign Up for Child Tax Credit Using Two New Tools

The payments will be paid via direct deposit or check. Each payment will be up to $300 for each qualifying child under the age of 6, and up to $250 for each qualifying child from ages 6-17. Other amounts and phaseout income thresholds are also available for families with children 18 and above who attend college, and for couples who make above the full income amount threshold. In order to see if you qualify, and the income limitations for each payment option, click here.

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Last updated: September 15, 2021

About the Author

Georgina Tzanetos is a former financial advisor who studied post-industrial capitalist structures at New York University. She has eight years of experience with concentrations in asset management, portfolio management, private client banking, and investment research. Georgina has written for Investopedia and WallStreetMojo. 

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