Everything to Know About the Child Tax Credit Coming in July


Child tax credit written on a paper. Financial concept.

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Starting July 15th, middle and lower-incoming families with children will start receiving The Child Tax Credit, that President Joe Biden signed into law in then American Rescue Plan.

To qualify for the 2021 Child Tax Credit payments, there are a couple of income factors involved. First, a couple who files their taxes jointly and earns up to $150,000 annually will receive the payments. For single-parent households, all families with a Head of Household tax-filer who makes up to $112,500 a year will also qualify for the payments.To qualify for the 2021 Child Tax Credit payments, there are a couple of income factors involved. First, a couple who files their taxes jointly and earns up to $150,000 annually will receive the payments. For single-parent households, all families with a Head of Household tax-filer who makes up to $112,500 a year will also qualify for the payments.

HOW MUCH WILL YOU GET:

HOW LONG WILL THE PAYMENTS LAST:

After the first payments in July, families will receive monthly payments on the 15th of each month until their full amount is paid out. The one exception at this point, the White House points out, is August. That month, the payments will be made by the 13th, as the 15th falls on a weekend.

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