The Child Tax Credit has undergone some important changes to help more families for the 2021 tax year; and payments have already started rolling out. Here’s what you need to know, according to the IRS.
Families who claim the Child Tax Credit will likely see an increase in credit amounts. Eligible taxpayers can receive up to $3,000 per qualifying child between the ages of 6 and 17 at the end of 2021. Families with children born in 2021 and under 6 years of age at the end of 2021 could receive up to $3,600 per qualifying child.
For more details, visit the IRS site. Consult your tax advisor.
