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IRS launches online tool to help non-filers get their child tax credit

IRS launches online tool to help non-filers get their child tax credit

FINANCIAL NEWS

IRS launches online tool to help non-filers get their child tax credit

Child tax credit: How to know if you qualify, how much you’ll get paidBiden increased child tax credit payments under his American Rescue Plan. Here’s the latest on how much you’ll get and when you’ll get the payments.Just the FAQs, USA TODAYThe Internal Revenue Service created a tool to ensure families that haven’t filed a 2020 tax return get the child tax credit.Qualifying families will get advanced payments beginning July 15, which will continue for the next six months and will be half of the total child tax credit they will get. The other half of the tax credit can be claimed after filing a 2021 tax return.The Child Tax Credit Non-Filer sign-up tool requires users to enter their identifying information including their name, address, Social Security number, date of birth, email, bank account number, and identity protection personal identification number if they received one from the IRS.From there, the tool will help to establish eligibility and issue payments.The IRS will also send letters to families who will be receiving a child tax credit and alert them about how much they will be getting in monthly payments.IRS Letters: IRS sends out letters about the new Child Tax CreditIRS to open non-filer portal: IRS to open a non-filer portal to sign up for Child Tax CreditEarlier this year, the child tax credit requirements were also expanded now making children 18 to 24 eligible, as long as they are full-time students. The credit also increased for other children, with those under the age of 6 having a credit of $3,600.Another change for this tax year is that the child tax credit is also fully refundable.The IRS previously created a non-filers tool last year to help people receive their stimulus checks.


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