Did you get your August Child Tax Credit?

Jenn Leach

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The most recent round of child tax child credits have been issued for the month of August. Have you gotten your payment yet?

Here's what to know:

  • How will you get it?
  • Who qualifies?

What is the Child Tax Credit?

As a part of the American Rescue Plan, the child tax credit disburses up to $300 per month for each child under six years old and up to $250 per month for each child six years old through seventeen years old to eligible families.

The first payment began on July 15, 2021.

Payments will continue through 2021.

How will you get the Child Tax Credit?

According to the IRS website:

Half the total credit amount will be paid in advance monthly payments and you will claim the other half when you file your 2021 income tax return. We’ll issue the first advance payment on July 15, 2021. For a full schedule of payments, see If I’m eligible to receive advance Child Tax Credit payments, when will I start receiving payments?

Who qualifies for the Child Tax Credit?

If you don't have a bank account, you can click here to be taken to the IRS website to learn more.

Who qualifies?

According to the IRS:

To qualify for advance Child Tax Credit payments, you — and your spouse, if you filed a joint return — must have:
Filed a 2019 or 2020 tax return and claimed the Child Tax Credit on the return; or
Given us your information in 2020 to receive the Economic Impact Payment using the Non-Filers: Enter Payment Info Here tool; and
A main home in the United States for more than half the year (the 50 states and the District of Columbia) or file a joint return with a spouse who has a main home in the United States for more than half the year; and
A qualifying child who is under age 18 at the end of 2021 and who has a valid Social Security number; and
Made less than certain income limits.

Now what? Have you gotten paid?

First, check this tool to make sure you're eligible.

If five days after the disbursement date has passed and you still have not been paid, consider contacting the IRS to trace your payment.

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Millennial entrepreneur and writer bringing you fresh content and ideas about making money, side hustles, personal finance, budgeting, and lifestyle. Connect with me: www.millennialnextdoor.com

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