The final Child Tax Credit payment for 2021 will be showing up in the bank accounts of millions of American families this week.
The payment is set to be sent by direct deposit on Wednesday, with paper checks being sent on that day, as well.
Generally, for the 2021 tax year, a taxpayer filing as a single is eligible for the full credit if their adjusted gross income (AGI) is at or below $75,000. For a married couple filing jointly, the income level is at or below $150,000. If you file as a head of household, the income limit is $112,000.
Parents have been getting $300 a month for every child in the household who is younger than age 6. Parents of children ages 6 to 17 have been getting around $250 a month.
Wednesday’s payment will be the end of the monthly child tax credit payments — the last of six checks of $250 or $300 each, which were first sent out in July
The rest of the credit can be claimed next year when income tax returns are filed.
The payments will be sent by direct deposit if the IRS has your bank information on file, or by a paper check if they do not.
You can also go to the Child Tax Credit Update Portal to view how your check will arrive, in addition to adding or updating direct deposit information.
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