Every page includes a table of contents to help you find the information you need. This website provides information about the Child Tax Credit and the monthly advance payments made from July through December of 2021.Understand that the credit does not affect their federal benefits.Find out if they are eligible to receive the Child Tax Credit.Understand how the 2021 Child Tax Credit works. Learn more about the expanded child tax credit Territories will receive this vital financial assistance to better support their children’s development and health and educational attainment. For the first time, low- income families residing in Puerto Rico and the U.S. In addition, the American Rescue Plan extended the full Child Tax Credit permanently to Puerto Rico and the U.S. Families caring for children were able to receive financial assistance on a consistent monthly basis from July to December 2021, instead of waiting until tax filing season to receive all of their Child Tax Credit benefits. Many eligible taxpayers received monthly advance payments of half of their estimated 2021 Child Tax Credit amounts during 2021 from July through December.Previously, only children 16 and younger qualified. The American Rescue Plan allowed 17-year-olds to qualify for the Child Tax Credit. By making the Child Tax Credit fully refundable, low- income households will be entitled to receive the full credit benefit, as significantly expanded and increased by the American Rescue Plan. The American Rescue Plan increased the amount of the Child Tax Credit from $2,000 to $3,600 for qualifying children under age 6, and $3,000 for other qualifying children under age 18. The credit amount was increased for 2021. Specifically, the Child Tax Credit was revised in the following ways for 2021: The American Rescue Plan’s expansion of the Child Tax Credit will reduced child poverty by (1) supplementing the earnings of families receiving the tax credit, and (2) making the credit available to a significant number of new families.
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