Did you know? This year, most families will receive a monthly payment of $250 - $300 per child. Low-income families with children are eligible for this crucial tax relief – including those who have not made enough money to be required to file taxes. Claim your Child Tax Credit and missing stimulus payments, even if you don’t have your tax documents.
To provide the Advance Child Tax Credit payments, the IRS needs to know current information about you and your children. If you have submitted a 2019 or a 2020 tax return, or if you used the IRS Non-filer Portal in 2020 to claim your stimulus payments, then the IRS has enough information to send your family your Advance Child Tax Credit payments automatically.
If you have not submitted any information to the IRS in the last year, you can submit your information through GetCTC, a simplified tax filing portal, and get your payments. The filing deadline for families to apply for the Child Tax Credit is November 15 using the new GetCTC tool. It is essential that the benefit reaches eligible individuals who do not normally file income taxes and therefore may not automatically be receiving the credit.
The Advance Child Tax Credit is not taxable income and is not counted as income for purposes of eligibility.
Learn more at ChildTaxCredit.gov.
Understanding Economic Impact Payments and the Child Tax Credit
It is estimated that up to 400K Coloradoans are not taking advantage of the enhanced Earned Income Tax Credit and the Child Tax Credit made available to families when the American Rescue Plan was enacted. Read the State and Local Child Tax Credit Outreach Needed to Help Lift Hardest-to-Reach Children Out of Poverty article for more information and data around these topics.