MILFORD, Conn. — More financial help could be coming your way pretty soon. Starting on July 15th, qualifying families will start receiving monthly checks from the IRS as part of the expanded child tax credit.
The payments are part of President Biden’s $1.9 trillion coronavirus relief package.
For people with children, the American Rescue Plan increased the Child Tax Credit from $2,000 per child to $3,000 per child for children over the age of six and from $2,000 to $3,600 for children under the age of six, and raised the age limit from 16 to 17.
Half of that amount will be split into six monthly payments that will be distributed from July through December. You’ll then claim the other half on your 2021 tax return.
On Monday, U.S. Representative Rosa DeLauro (D-CT-03) visited Milford and was joined by Milford Mayor Ben Blake, President and CEO of TEAM, Inc., David Morgan, and Director of Asset Building Programs at Connecticut Association for Human Services Takima Robinson to highlight Child Tax Credit Awareness Day.
“The child tax credit is a lifeline to the middle class and will cut child poverty by 55 percent this year. It provides children and their families with additional payments throughout the year that helps them with costs of food, childcare, diapers, healthcare, clothing, taxes,” said Rep. DeLauro.
All working families will get the full credit if they make up to $150,000 for a couple or $112,500 for a family with a single parent.
If you’ve filed tax returns for 2019 or 2020, or if you signed up to receive a stimulus check from the Internal Revenue Service, you will get this tax relief automatically. You do not need to sign up or take any action.
The new Child Tax Credit enacted in the American Rescue Plan is only for 2021. However, Rep. DeLauro wants to make the expansion permanent.
“Children and families must be able to count on this benefit long after the end of this pandemic. This is about, we’ve known child poverty has existed in our country for year. We know have the opportunity through a child tax credit to build the architecture for the future,” said Rep. DeLauro.
If you didn’t make enough to be required to file taxes in 2020 or 2019, you can still get benefits by visiting this website to sign up: https://www.whitehouse.gov/child-tax-credit/sign-up/
TEAM, Inc. will be hosting events to help non-filers with children get signed up for the benefits.
The events will take place at 30 Elizabeth St. in Derby on the following days:
- Friday, June 25th - 9 AM - 3 PM
- Saturday, June 26th - 9 AM - 12 PM
- Friday, July 9th - 9 AM - 3 PM
- Saturday, July 10th - 9 AM - 12 PM
More information about the child tax credit can be found here: https://www.whitehouse.gov/child-tax-credit/
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