The IRS named the dates for child support payments: when and how much you can get

The IRS announced on Monday June 7 that taxpayers who are eligible for the Extended Child Tax Credit will receive a letter in the mail from the IRS in the following days informing them of their eligibility. CNBC.

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The payout will be based on either the most recent tax return or information that benefit seekers submitted to the non-filers tool in order to claim economic damages in 2020.

An estimated 36 million families are eligible for the benefit, which in 2021 is up to $ 300 per month for each dependent child under 6 years of age and up to $ 250 for each child aged 6-17. Families can look forward to a second letter from the IRS assessing their monthly payment in the coming weeks, the agency said.

The first payment is scheduled for July 15th. After that, taxpayers can expect to be paid into their bank accounts around the middle of each month until December, according to the IRS. Here official dates:

• July 15
• 13 of August
• on September 15
• 15 October
• 15 November
• 15 December

Payments will be made either by direct transfer or by paper check, depending on what information the IRS has on file for each recipient. Eligible families will receive a lump sum payment during the first six months of 2021 when they file in 2022.

On the subject: Child tax credit: what you need to know about the amount, timing and overpayment

Who is eligible for payments

The IRS estimates that 88% of families with children will be eligible for extended loans. To be eligible for full monthly payment, applicants must have adjusted gross income for 2019 or 2020 below the following levels:

• $ 75 for individual taxpayers;
• $ 112 for the head of the family;
• $ 150 for married taxpayers filing jointly and widows / widowers.

Anyone who qualifies will receive payment, even if they have no earned income or usually earn too little to be in tax arrears.

In tax year 2021, families will receive a maximum of $ 3600 for each child under 6 and a maximum of $ 3000 for children 6-17.

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The agency says most eligible families do not need to do anything to receive payments, which will be based on 2020 income. However, if they have not filed their tax return yet, they should do so as soon as possible to send the latest banking information for each individual and their dependents to the IRS.

Until July 15, the IRS plans to release a tool that will allow families to defer receiving extended advances and instead receive the full amount of the tax credit when they file their tax returns next year.

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