If you are among those left wondering “Do I qualify for the Child Tax Credit?”, we have good news: a new online tool allows you to figure out whether you qualify or not without even leaving your home.
What Is the Child Tax Credit?
The child tax credit is part American Rescue Plan, a set of measures whose goal is to deliver direct relief to the American people affected by the coronavirus pandemic.
To put it simply, this credit means that almost all working families will receive between $3,000 and $3,600 per child. In order to qualify for the credit, families must make up to $150,000 for a couple or $112,500 for a family with a single parent.
People will receive this credit in monthly payments starting July 15 2021 through December 2021.
How to Find Out if I Qualify for the Child Tax Credit?
The people who meet the requirements mentioned above usually don’t have to take any action if they filed a 2020 or 2019 tax return.
If you didn’t file a 2020 or 2019 tax return, use the Non-Filer Sign-Up Tool to file a simplified tax return that will allow you to register for the Child Tax Credit.
For those who want to determine if they qualify for the credit, the IRS unveiled recently an online tool called Advance Child Tax Credit Eligibility Assistant .
All you have to do is to answer the questions that the online tool will show you to find out if you qualify for the credit.
If you are concerned about the privacy of your data, you can breathe easy: You won’t have to input any personal information and your answers won’t be recorded by the IRS.
Need Help With Your Taxes? Contact the Tax Experts at Delgado’s Insurance
If you are looking for assistance with your tax return, the child tax credit, or any other matter relating to taxes, contact our experts at Delgado’s Insurance. Our mission is to help you make sense of your options to reduce your liability and maximize your deductions while staying compliant with all relevant laws and regulations.
We have locations in Riverside, California, and Bloomington, California. Contact us today by telephone (951-361-0084, 909-421-9003), email (mail@delgadosinsurance.com), or through our social media accounts (Facebook, Twitter) to get a free quote and learn more about our wide array of services.
