Fortunately, you have several ways to quickly get an idea of whether you qualify and. With dependents ranging from newborns to college kids who may qualify for the child advance tax this year, it’s worth figuring out which members of your family meet the requirements.
We tell you all the ways you can learn about the ins and outs of eligibility below. But if you are looking for more information about the children’s discount,. Here are tips on how to . (Here are more details about it , and what could be? .)
The IRS Is Sending Two Letters of Tax Credit for Children
If a letter from the IRS arrives in your mailbox, don’t worry. Chances are it’s the IRS notifying you that you’re one of 36 million families eligible for a payment. The IRS will send the letter if it determines that you qualify for a child tax credit, based on your 2019 or 2020 federal income tax return., to mark your eligibility if you have children.
That’s just the first letter warning you that you may be eligible. The IRS also plans to send a second letter to confirm your eligibility and estimate how much child tax credit you could get. (Payments begin July 15.) When you receive this letter, you don’t need to do anything except keep it in case you need to refer to it later.
and other people who don’t get the letter don’t worry just yet. and read on for more qualifying tips.
IRS Information Portals Coming Soon
By the end of June, the IRS plans to open two web portals to help you get your child tax credit. They’re a little complicated, but the important thing to know is that they do two important things for you: tell you if you qualify for the child tax credit and help you monitor your payments.
The online portals also allow you to add new information, correct or update outdated details — such as the number of children you have — and make a few other decisions about opting out of various smaller payments. That’s in addition to ultimately tracking your payment status. (Again, here’s even more detail for this).)
Learn the requirements and use our child tax credit calculator
Instead of sitting around waiting for the IRS to send you a letter, you can quite easily make an informed estimate of your qualifying status. We think the fastest way is to get our. Simply enter your annual income and number of children. Don’t worry — the calculator is private and anonymous and will not store or use your personal information.
For the most part, the calculator will tell you what you need to know. However, there are some outliers that may crop up for some. For example, in some cases it is possible.
And whileis generally eligible for the full amount, which may change if you share custody of a child. U.S. citizenship also plays a role, so if one of your children is adopted from another country, make sure you have all .
For more information, here’s how to tell if your, how could you and what if you could expect a refund for the? .