The next child tax credit comes this Friday. All of the payment and opt out dates to know

Some dad and mom qualify for up to $300 per child per thirty days. 

Sarah Tew/CNET

The second spherical of child tax credit funds goes out this Friday. It’s the solely advance payment that may fall on the thirteenth, whereas different funds might be despatched on the fifteenth by December. This yr, qualifying families can rise up to $300 a month for every dependent by mail or direct deposit. The different half of the cash might be included with next yr’s tax refund. But the funds aren’t for everybody — it’s essential to meet sure revenue {qualifications} and dependents should fall inside a sure age bracket. However, most dad and mom do. We’ll clarify. 

If you are curious how a lot you may get, use CNET’s calculator to estimate your whole quantity. Here are just a few child tax credit numbers to take note. Parents can rise up to $300 every month for every child below age 6, and up to $250 a month for every child aged 6 to 17. But advance funds are optionally available, and dad and mom can opt out of the advance month-to-month checks in the event that they’re apprehensive about eligibility. (The opt-out deadline for Friday’s examine has handed, however dad and mom can unenroll by Aug. 30 for the September payment.) 

We’ll clarify how advance month-to-month funds will affect your taxes and the probabilities of reimbursement. The IRS portals are a great way to replace your eligibility data, handle funds and extra. And should you’re nonetheless ready on July’s payment or obtained much less cash than anticipated, we are able to clarify what may be happening with your money. This story is up to date continuously. 

When is the second child tax credit examine coming?

You will not get all of the child tax credit cash this yr. You’ll get half of the cash in month-to-month funds, and the relaxation in 2022 once you file your taxes, except you inform the IRS you need to unenroll from the advance monthly payments to get one lump sum next yr. The next examine might be disbursed this Friday, Aug. 13.

So in different phrases, your largest payment arrives next yr — up to $1,800 per child. Until then, you get six smaller funds in whole this yr to begin utilizing straight away. The thought is to convey you cash sooner to meet bills like lease, meals and daycare, which is why the checks are “advance payments.”

Child tax credit payment schedule

Monthly Maximum payment per child 5 and youthful Maximum payment per child; 6 to 17
July 15: First 2021 examine $300 $250
Aug. 13 $300 $250
Sept. 15 $300 $250
Oct. 15 $300 $250
Nov. 15 $300 $250
Dec. 15: Last 2021 examine $300 $250
April 2022: Second half of payment $1,800 $1,500

What if I do not get a child tax credit examine?

One factor to take note is that the IRS is focusing on the payment dates (see above). If you might have direct deposit arrange with the IRS, you may see a pending payment earlier than the precise cut-off date. That means you may not have the opportunity to entry the cash straight away, however that it is in course of.

It may take longer on your payment to arrive should you’re receiving the examine by mail. If sufficient time has handed and you are involved there could also be an issue, you need to use the IRS Update Portal to right your direct deposit data. You also can file an IRS payment hint should you’re apprehensive. Check right here for extra information about missing payments

Is it too late to opt out of month-to-month child tax credit funds? 

Advance funds are optionally available, and although the majority of US households are eligible many nonetheless do not qualify. If you are unsure that you just qualify you might want to opt out to keep away from repaying the IRS. You can not opt out earlier than the August payment, however the next deadline to opt out for month-to-month funds is Aug. 30. You can use the IRS Child Tax Credit Update Portal on-line anytime between now and December to unenroll. You might want to unenroll should you do not meet revenue or different eligibility necessities. 

To cease advance checks, the IRS says it’s essential to unenroll three days earlier than the first Thursday of the following month. See the chart beneath for deadlines. Once you unenroll in this yr’s advance funds, you may’t but reenroll, although the IRS says it’ll make that possibility out there later. Also be aware that for {couples} who’re married and submitting collectively, every mum or dad should unenroll individually. It is just too late to opt out of the July payment, however you may unenroll for the relaxation of the month-to-month funds. 

Child tax credit payment unenrollment dates

Payment month Unenrollment deadline Payment date
July June 28 July 15
August Aug. 2 Aug. 13
September Aug. 30 Sept. 15
October Oct. 4 Oct. 15
November Nov. 1 Nov. 15
December Nov. 29 Dec. 15

What can I take advantage of the IRS child tax credit portals for? 

In June, the IRS opened its child tax credit online portals. The first portal is for folks not normally required to file an revenue tax return, together with low-income households. And the Child Tax Credit Eligibility Assistant software — out there in English and now in Spanish — helps households rapidly decide whether or not they qualify. 

The Child Tax Credit Update Portal at the moment lets households see their eligibility, handle their funds and unenroll from the advance month-to-month funds. Parents also can replace their direct deposit data utilizing the portal. In the coming months, it’ll enable households to replace different data if their circumstances modified — for instance, if a brand new child has arrived or will arrive in 2021 and is not mirrored in your 2020 tax return. You’ll additionally have the opportunity to replace your mailing handle, marital standing, revenue or dependents to have the most up-to-date eligibility data. 

This helpful PDF additionally describes what the portals do. 

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Child tax credit: Everything we know


How can I check my eligibility for child tax credit checks? 

Income limits determine how much you will receive and if you even qualify, though there is no limit on the number of children you can receive credit for as long as you’re eligible. 

Single filers earning less than $75,000 per year, heads of household earning less than $112,500 per year and married couples earning less than $150,000 a year will be eligible for the full amount. 

The amount you’ll get will then phase out for higher incomes. Your child tax credit payments will phase out by $50 for every $1,000 of income over those threshold amounts, according to Joanna Powell, managing director and certified financial planner at CBIZ. In other words, your family could still receive some money above those income limits, but it won’t be for the maximum payment. 

How much money can I expect to receive each month?

How the child tax credit payments will be divided between 2021 and 2022 might be confusing. For each qualifying child age 5 and younger, up to $1,800 (half the total) will come in six $300 monthly payments this year. For each kid between the ages of 6 and 17, up to $1,500 will come as $250 monthly payments six times this year. 

The IRS bases your child’s eligibility on their age on Dec. 31, 2021, so a 5-year-old turning 6 in 2021 will qualify for a maximum of $250 per month. For both age groups, the rest of the payment will come with your 2021 tax refund when you claim the remainder of the credit in 2022. 

If you have a dependent who is 18 years old, they can qualify for $500 each. Dependents between the ages of 19 and 24 may qualify as well, but they must be enrolled in college full time. Here’s more on the financial details for qualified dependents

2021 child tax credit maximum payments

Ages 5 and younger Up to $3,600, with half as $300 advance monthly payments
Ages 6 to 17 Up to $3,000, with half as $250 advance monthly payments
Age 18 $500 one-time check
Ages 19 and 24, full-time college students $500 one-time check

Does my new baby qualify for advance payments? 

If you have a baby in 2021, your newborn will count toward the child tax credit payment of $3,600. Children who are adopted can also qualify if they’re US citizens. You’ll be able to update the IRS on a new dependent once that aspect of the Update Portal is available. 

How can I get child tax credit payments if I didn’t file my taxes?

Payments will be automatic for those who filed their 2020 tax returns by the May 17 deadline (or those who claimed all dependents on a 2019 tax return). Parents who didn’t file taxes should use the new IRS tool, called the “Non-filer Sign-up tool,” to get their money, even if you’re not usually required to file. This will let the IRS know your income level and how many dependents are in your household who count toward the child tax credit benefits. 

You could also file a tax return to get the full monthly child tax credit payment you’re owed. 

How can parents get advance child tax credit checks if they share custody?

For the first two stimulus checks, some parents who shared custody of a child but weren’t married to each other were entitled to each claim money for the same child. That was only if they alternated years for claiming the dependent — in other words, if one parent claimed the child on their taxes in odd years and the other claimed the child on their taxes in even years.

This is no longer allowed for the third check, and we’re told it won’t work that way for the child tax credit payments either. Here’s what we know so far about child tax credit and shared custody situations.

If the child switches homes this year, the parents will need to agree on who will claim the child on their taxes this year. The parent that claims the child and receives the child tax credit payments will need to fill out Form 8332 and include it with the tax return. If you don’t qualify or want to get the money in one lump sum, you can also opt out of early payments. Remember, if you’re not eligible but receive the money, you may have to pay the IRS back during tax time. 


The deadline has passed to update your banking information ahead of Friday’s check. 

Sarah Tew/CNET

If the IRS overpays, will I have to repay during tax time next year?

Since the IRS uses your 2019 or 2020 tax return, your family may not qualify for the child tax credit payment when you file your 2021 tax return in 2022. In this case, you may have to repay the IRS some or all of the credit. The child tax credit rules aren’t as flexible as the stimulus check rules regarding overpayment. One example of when this would happen is if you and the other parent of your child (who is not your spouse) were both paid for the child tax credit for the same dependent.

To avoid this tax inconvenience, make sure all your information is updated before the payments start arriving. The Update Portal will let you make adjustments in the coming months to verify your new income and marital status. 

How will advance child tax credit payments affect my 2022 taxes?

If you’re eligible for advance payments and choose to get the extra cash this year, you’ll receive the second half of your total on your taxes next year. You’ll need the total amount of child tax credit money received in 2021 to compare it with how much you can claim. The IRS will send a letter with your personalized estimate; you’ll need it for your 2021 tax return. You may have to repay the IRS if you got more than you were supposed to. 

On the other hand, if you opted out of early child tax credit payments, you’ll get the money in one lump sum. Here’s what to know about how the payments impact your tax refund next year.

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