21 days ago
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The expanded 2021 child tax credit details are complex. We'll explain everything we know about the checks, including the payment timeline and how correcting errors works.
Six monthly payments for the enhanced child tax credit will start going out in July -- although there isn't an official date for when the checks will arrive. While that's the case, we do have several details about the IRS payment schedule and other details. For example, families who qualify for the child tax credit will get up to $500, $3,000 or $3,600 per child total. But unless they opt out of the monthly payments, most people will get the money divided into seven checks, not one lump sum, with the last arriving when they file taxes in 2022. (CNET's child tax credit calculator breaks down your monthly check size.)
Adults need to meet specific adjusted gross income requirements in order to qualify for the money. Dependents have eligibility requirements to meet, too. Also, make sure you're caught up on the details for older kids and 2021 babies, or if you share custody with your child's other parent.
Keep reading for the child tax credit payment timeline and how it'll work, what to do if you get too much money and how you'll correct errors using the IRS portal. If you're still waiting for your $1,400 stimulus check to arrive, you can track your payment here. We also recommend taking a couple of minutes to see if your state owes you money and to check out if President Joe Biden's next stimulus bill could bring you more money. Also know you could get up to $50,000 back with one-time COVID credits and benefits. This story is regularly updated.
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