While still subject to change, President Biden’s $ 1.9 trillion stimulus package includes a provision that would temporarily increase the child tax credit from $ 2,000 to $ 3,000 per child ($ 3,600 for children aged 5 and under) for the 2021 tax year. It would also allow periodic payments of “family allowances” to families from July to December. Half of the total credit amount would be paid up front with the periodic payments, while the other half would be claimed in the tax return you file next year.
However, not everyone would get the extra amount as part of the President’s plan. And some families would not get any credit (or periodic payment) at all. It’s because the …
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- Headline: 2021 Child Tax Credit Calculator
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