Advance Child Tax Credits are coming!
06-30-2021Children & Students
The American Rescue Plan Act of March 2021 changed a number of provisions for the child tax credit – these tax changes are temporary and only apply to the 2021 tax year.
- Raised the age of qualifying children to 17 from 16
- Increased the amount for certain taxpayers
- Made the credit fully refundable (meaning you can receive it even if you don’t owe the IRS)
- May be partially received in monthly cash payments