Have Children? You Could Be Getting A Big Tax Credit Today

Today July 15th, 2021, marks the first of six monthly child credits that could be coming your way from the IRS if you have children. Just like your tax refund, these will be automatically deposited in your account or mailed to you.

Just in time for back to school shopping, the tax credits are going out now. It could be in your account already. If you filed your 2020 taxes you are automatically opted in.

If you want to opt out of the process, just click this link from irs.gov. From there you can also check and confirm that you are signed up to get the advanced payments.

Tax Credit? What Is This All About

Check out irs.gov, there you will find some FAQ's about the payments, and gain some insight on when you will be expecting all of the 6 payments coming in 2021. These payments are part of some big changes to the Child Tax Credit.

This will help families get advance payments, instead of waiting for refunds. This could make it easier to pay your monthly bills, instead of getting a huge lump sum.

How Do I Get The Money? 

If you are going to receive your payments in check form, you most likely won't see the money today. If you have your tax refunds going directly into your bank it could already be there now.

You still have time to make changes to your address until early next month. You can also make changes to your dependants, marital status, and income through late summer. You could even opt back in, if you opt out today.

How Much Money Do I Get? 

Even if you have no income you can receive advance Child Tax Credit payments. Check your eligibility, and get that money.

Payments are up to $300 a month. If this money could really help out your family right now, it's worth taking a look to see if it's coming.