Child Tax Credit Payments
The American Rescue Plan, which expanded the income tax credit program for families with children for 2021, has kicked off monthly child tax credit payments that began on 7/15/2021 through the end of the year.
UHCU will post the funds to your account as soon as we receive the deposit information. More information on how the IRS will be disbursing funds can be found below.
You can find more information on the child tax credit at the IRS.gov website.
Child Tax Credit Payment FAQ's
What did the program expansion change?
Are You Eligible?
The dollar amount available per child increased. Families may be eligible to receive a maximum yearly credit of $3,600 for each child under 6 and $3,000 for children ages 6 to 17 (previously $2,000 per child).
To qualify for the advance child tax credit, all of the following must apply:
The tax credit is reduced by $50 for every $1,000 your income exceeds the requirement, until the credit amount reaches $2,000.
- Have at least one child under the age of 18
- Make less than $75,000 year if filing alone, less than $150,000 if filing jointly, or less than $112,500 for unmarried single parents
- Reside in the United States for at least six months
- Live with the child being claimed as a dependent for at least half the year
Do You Need to Take Action?
If you are eligible for the advance child tax credit and filed your taxes in 2020, you do not need to apply or sign up. If you did not file a 2020 tax return, you can still receive your child tax credit by completing the sign-up on the IRS website.
How Long Will Payments Last?
The advance child tax credit payments will be delivered through the end of 2021 as follows:
How Will I Receive My Payments?
- July 15
- Aug 13
- Sept 15
- Oct 15
- Nov 15
- Dec 15
If the IRS has received your banking information, your payment will be sent to you as a direct deposit. They will use bank account information from the following sources, in the following order:
- Your 2020 tax return.
- Your 2019 tax return, including information you entered into the Non-Filer tool on IRS.gov in 2020.
- A federal agency that provides you benefits, such as: Social Security Administration, Department of Veterans Affairs, or the Railroad Retirement Board.
If the IRS does not have bank account information to issue you a direct deposit, they will send your advance Child Tax Credit payments by mail.
Additional details about the payment process can also be found on the IRS.gov website.