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3 ways to know if you qualify for the $3,600 child tax credit

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Circle the date: July 15 is near, if you expect a payment of the child tax credit.

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Unsure if you qualify for advance payments for the child discount from July? It’s not easy to figure out who qualifies and who doesn’t. You must take into account the different ages of your children, how much you earn and if you share custody of a child — where the child lives most of the time.

Fortunately, you have several ways to quickly get an idea of ​​whether you qualify and how much money could you receive each month?. 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, read this introduction to payments. Here are tips on how to make wise use of the child tax credit. (Here are more details about it stimulus check plus-up payments, and what could be? withholding your income tax refund.)

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. non-filers tool, 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.

non-filers and other people who don’t get the letter don’t worry just yet. Here’s to know more about the IRS letterand read on for more qualifying tips.

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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) people who normally don’t file a tax return.)

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We can help you calculate your payment.

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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 child tax credit calculator. 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 your income will disqualify you.

And while parents of new babies is 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 rules that only apply to children.

For more information, here’s how to tell if your state owes you money, how could you get money back for your childcare costs and what if you could expect a refund for the? tax benefit in case of unemployment.

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