Child Tax Credit Calculator
What to Know About the 2021 Child Tax Credit
If you claimed a dependent child in 2020, you can probably not only expect a higher child tax credit for 2021, but you may also start getting advanced monthly payments beginning in July of this year. Here’s what you should know:
2021 Child tax credit calculator
Even if your income does not qualify you for the increased credit, you may still qualify for the original $2,000 child tax credit. If you are concerned about having to pay back the child tax credit due to a change in income, you may elect to receive your full credit on your return and opt out of the advanced payments by using the IRS online portal scheduled to be launched in July 2021.