The Internal Revenue Service and the Treasury Department announced that millions of American families will soon receive their Child Tax Credit Eligibility Assistant. If you haven’t received your first payment, you can check the IRS’s child tax credit update portal to double-check your eligibility. The 2021 advance monthly child tax credit payments started automatically in July. If you haven’t received your first payment yet, you should log into the tool to reconcile the payments received between July and December with your eligible amount.
To claim the Child Tax Credit, you must have taxable income and may not qualify if your income is too low. If you received advance payments, you need to reconcile the total received with the amount you’re eligible to claim. If you have self-employment income and show a loss, you won’t get the childcare credit. If you are filing married, you won’t get the credit.
Refunds may be delayed due to claimed child tax credit or earned income tax credit, which takes a bit longer to process. Generally, you may not take this credit if your filing status is married filing separately. Del. Kayla Young said that low-earning families were unlikely to access a child tax credit because they would instead rely on the state’s assistance.
To claim your 2021 Child Tax Credit, you must file a 2021 tax return by April 18, 2025. If you filed a 2021 tax return but didn’t get the Child Tax Credit and didn’t receive the CCR payment, you can expect to receive your CCR payment 6-8 weeks after your tax return has been assessed. To check your Dependent Care Expenses, go to My Account and follow the steps provided in IRS Publication 503, Child and Dependent Care Expenses.
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