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2021 Child Tax Credit: How Much Will You Receive and When?

2021 Child Tax Credit: How Much Will You Receive and When? 

July 15th kicked off Child Tax Credit payments bringing financial relief to families across the country. This money was included in the March 2021 stimulus bill, which increased both the value of the existing credit and the age limit. The credit is now fully refundable, which means you can receive the benefit even if you don't owe federal taxes. Half of the credit will be distributed in advance of the 2022 filing season. 

Advance Payment Details 

The credit amount changes based on the age of your children 

  • Ages five and younger is up to $3,600 total ($300 monthly payments) 
  • Ages six to 17 is up to $3,000 total (up to $250 monthly payments) 

The credit 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 
  • $75,000 for single and married filing separate 


Child Tax Credit Calculator 

Use this child tax credit calculator to estimate how much of the credit you can expect monthly and when you file your return next year. The first payments were sent by direct deposit on July 15, 2021. Then, they’ll continue monthly on the 15th of each month. 

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