Child Tax Credit Payment to Go Out Thursday to Eligible Families
On Thursday parents should begin to see the first of six-monthly child tax credit payments in their account. The child tax credit increased to $3,600 for children under six and $3,000 for ages 6 to 17. Congressman Troy Carter said allowing families to receive the money in advance is significant.
“The whole aim of this is to strengthen families, to end child poverty. We believe through this effort that this will give us a chance to reduce child poverty by fifty percent,” said Carter.
The increase in payments is part of the American Rescue Act. The salary cap for the child tax credit is $150,000 per family or $112,500 for single parents. Carter said payments will be sent to eligible parents automatically to the same account that their 2020 taxes were filed, otherwise payments will be mailed.
“All you have to is have children within the ages of zero to seventeen and have paid your taxes, or filed your taxes in the last two years,” said Carter.
If you haven’t filed, you can visit the child tax credit portal at IRS.gov and it will guide you through how to receive your payments. Carter said parents who didn’t work should also visit the site.
“Raising children is work, so you don’t have to have had income. You go in and there’s a process through that website where you can click that link and it will walk you through that process as well,” said Carter.
Eligible families should have received a letter notifying them of the credit.
Carter is holding a series of town hall meetings to answer questions about the Child Tax Credit Tuesday and Wednesday in the second congressional district.