The monthly payments of the Tax Child Credit are an important form of financial relief for American families affected by the COVID-19 pandemic. What not everyone knows is that not only traditional families qualify for these payments. Keep reading to learn more.
Families ofMany Types Qualify for the Child Tax Credit Payments
There are many types of families, from grandparents who take care of their grandsons to parents who have adopted one or more children. That’s why the payments of the Child Tax Credit apply to a wide variety of scenarios besides traditional families.
When it comes to the Child Tax Credit Payments, the child who qualifies can be a filer’s:
- Son or daughter
- Adopted child
- Eligible foster child
- Siblings, including stepsiblings or half-siblings
- A descendent of any of the above (for example, a grandchild, niece or nephew)
What You Need to Know About the Child Tax Credit Payments
The Advance Child Tax Credit Payments are monthly payments whose goal is to offer financial relief to families affected by the COVID-19 pandemic.
Since last July 15, families that qualify have been receiving each month payments of $250 or $300 for every qualifying child.
Working families will get the full credit if they make up to $150,000 for couples or $112,500 for families with a single parent.
To know if you qualify for the Advance Child Tax Credit Payments, use the online Advance Child Tax Credit Eligibility Assistance.
If you need assistance or have questions about the Advance Child Tax Credit, don’t hesitate to contact our experts to get dependable, personalized assistance.
Contact the Experts at JT Tax Services
Do you need help figuring out how the Advance Child Tax Credit Payments? JT Tax Services is here to help! We give you the peace of mind that comes with knowing that you are limiting your liability while staying compliant with all regulations.
We are located in Oxnard, California. Contact us today by email (firstname.lastname@example.org), telephone (805-984-8890), or through our social media accounts on Facebook, Twitter, and LinkedIn to schedule a consultation or to learn more about our services.