Are you eligible for the August 13 child tax credit payment? Here is how to check

The next child tax credit check will be sent out on August 13 by direct deposit or by mail.

Sarah Tew / CNET

I don’t know if you are eligible in advance child tax credit payments? Now is a good time to check. Most American parents are eligible for monthly payments, but certain circumstances may mean that you are no longer eligible. This year’s child tax credit program could mean parents receive up to $ 300 per month for each child. But what if you guess the prepayments? If you are not eligible, you can refund part to IRS Next year. You can quickly find out all of this using the IRS Eligibility Assistant tool. All you need is your personal information such as your income, filing status, and number of children.

If your circumstances changed during the pandemic and you are no longer eligible, you may consider withdraw. Prepayments are optional and you can get the full amount during tax time. Even though the deadline for opting out of the August payment has now passed, parents have until Monday August 30 to refuse the September check. Keep in mind that these regular prepayments are not a tax deduction, but a real cash credit. You can use CNETs child tax credit calculator to get an estimated total if you haven’t already.

It’s easy to see if you qualify for the extra money. Just answer a few questions using the online Eligibility Assistant tool, which is also available in Spanish. Then use the update portal to manage your payment options and get more personalized payout amounts – or, if you don’t qualify, use that same portal to opt out of monthly payments. If you do not yet have an account with the IRS, you will need some time to create one using ID.me. If you are eligible, you can use CNET child tax credit calculator to get an estimated total if you haven’t already. We have updated this story.

How do I know if I’m eligible for this year’s child tax credit?

Parents can benefit from full Child tax credit payments if they meet any of the following rules outlined by the IRS.

  • $ 150,000 in total earned income if married and filing jointly
  • $ 112,500 in earned income if you declare to be the head of the family
  • $ 75,000 in earned income if you deposit a single person

If parents meet these income requirements, each dependent under the age of 6 can receive up to $ 300 per month until December and the other half during tax season 2022, for a total of $ 3,600. Children aged 6 to 17 can receive up to $ 250 per month and up to $ 3,000 in total. Dependents between the ages of 18 and 24 will have to wait until tax time to get the full amount.

If you earn more than the required income, you may still receive early child tax credit payments, but less than the maximum amount. The IRS subtracts $ 50 from each advance check for every $ 1,000 after the income limit. So if you earn $ 85,000 as a sole filer, you could be entitled to up to $ 200 per month, depending on the age of your child.

There are a few others eligibility conditions for dependents remember:

  • Must be a U.S. citizen
  • Must be under 17 before the last day of the tax year
  • Must be claimed on the parents’ income tax return

How do I check my eligibility for the child tax credit online?

Before you begin, make sure you have a copy of your 2020 income tax return, or your 2019 income tax return if you have not yet filed your taxes this year (for example, if you have filed an extension). If you don’t have a tax return on hand, you can use your filing status and the number of children you have claimed, as well as an estimate of your total income for 2020.

You can use the IRS Eligibility Assistant to answer a few quick questions. If you qualify, you will use your income tax return and the Child Tax Credit Update Portal to see if you are registered for payments. You can also opt out, even if you are not eligible, but have received your first check.

Once you’ve determined what your income was for 2020 or 2019, you can check your eligibility. Here’s how.

1. Go to Eligibility assistant for the advance child tax credit Tool page on the IRS website.

2. Tap or click Check your eligibility.

3. You will then need to answer a few questions about yourself and your taxes. For example, the form will ask if you claimed the child tax credit on a previous tax return.

4. You may need to provide additional information, depending on how you answered the questions. This is where you fill in your filing status, adjusted gross income, and the number of children you reported on your tax return (along with their ages).

5. After knocking Next, the tool will let you know if you qualify based on the answers you provided. It will tell you how much each child under 6 qualifies you for and what amount each child 6 and over qualifies you for. It will also show you the details of the income phase-out.

6. From there, tap or click Manage your advance payments of the child tax credit, which will take you to child tax credit portal which allows you unsubscribe from monthly payments if you prefer to receive one large check instead of several smaller ones, or submit your information if you are not a registrant.

Keep in mind that the Eligibility Assistant tool and the Child Tax Credit Update Portal not tell you how much you are entitled to. The tool also doesn’t tell you:

  • The personalized total you will get from the child tax credit payment. He leaves it up to you to do the math.
  • How much will the payments be reduced if your income exceeds the limit.
  • All child tax credit payment dates.
  • Only one parent can claim the money for a particular child in a shared custody situation.

You can find answers to most of these questions in our Child tax credit faq.

What if i am not eligible for advance payments of the child tax credit?

If you are not sure whether or not you qualify based on the requirements, confirm with the Eligibility Assistant tool and update your information using the Child Tax Credit Update Portal. Currently, you can use the portal to update your banking information and opt out of this year’s advance payments. This month you will be able to update your mailing address. You should be able to update your income and dependents by next month.

As a safety measure, you can also opt out and get a lump sum during tax season next year. The deadline for opting out of the August payment has passed, but there is still time to opt out of future payments. The next unsubscribe deadline is Monday August 30th., but you can unsubscribe anytime by December if your situation changes.

$ 300 cash with calculator

Parents in 2021 could be eligible for up to $ 3,600 with changes to this year’s child tax credit.

Sarah Tew / CNET

Am I eligible for the child tax credit if I have a baby this year?

If you adopt or have a baby in 2021, you will need to update your information in the IRS Update Portal when this feature becomes available at the end of summer. Once the agency saves your updated information, you will be able to receive future payments. For example, if your baby was born on September 20, you might start receiving advance payments in October. You will have to wait until 2022 to get the July, August, and September payments retroactively.

If your baby was born in December 2021, you can claim the money you didn’t receive from July through December when you file your taxes next year. If you have a newborn baby in January 2022, you will not be entitled to the highest amount of money that was approved in the US bailout, but you may be eligible for the initial amount, unless the enhanced child tax credit not be extended.


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