The Child Tax Credit has been around for years, but this year there are some changes. Due to the American Rescue Plan Act, families may notice an increase in the amount of aid they receive. For children over the age of six, the credit has increased from $2,000 to $3,000 and for children under the age of six, the amount increased from $2,000 to $3,600. The age limit was also raised from 16 to 17 and the credit you receive per child will depend on your income.
Payments are sent out monthly and you may receive them via check or direct deposit into your bank account. If you receive the credit via direct deposit, it will be labeled “CHILDCTC” on your statement. Please click the link below for more information.