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Child Discount Expansion 2021: See if you’re getting $ 500, $ 3,000, or $ 3,600 per child


Calculate how much money you can get from the extended 2021 child discount.

Sarah Tew / CNET

The first of seven total child discount payments will go out in July to eligible people with qualified dependents — including newborn babies and older children in college. You will get half of the total amount you owe this year in monthly payments from July to December – the rest will come in 2022. (President Joe Biden insists payments be extended further through 2025.) unsubscribe from monthly payments if you prefer a lump sum.

So how much could you get each month and in total? CNET’s child discount calculator can help you estimate that. (Here’s how to spend the money when it comes.) Also know that if your adjusted gross income is higher than the specified amount before 2021, you will generally receive less money for your children. Parents who share custody of the children also have fixed rules.

For those who filed their taxes before the bill was passed, you don’t need to amended tax form (track your tax status with the IRS). The IRS still is send stimulus controls and plus-up payments, but may soon focus on child discount payment details. While you’re here, see if your the state owes you money and how some could save up to $ 50,000 on their taxes this year. This is what we know about one fourth check, how the the following incentive account may benefit you and forgiveness of student loans. This story is regularly updated.

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View your estimated payment total with our 2021 Child Discount Calculator

The new children’s tax credit increases the limits for 2020 from a maximum of $ 2,000 per child to a maximum of $ 3,600, but the math gets complicated quickly. Qualified children 5 years and under count for $ 3,600. Children between the ages of 6 and 17 count up to $ 3,000 per child; 18-year-olds and full-time students aged 24 and under can pay parents a one-time payment of $ 500.

Enter your details below, including your adjusted gross income, or AGI, to see your payment breakdown. This calculator does not store or use your data. The results are based on our current understanding of the law and should be treated as broad estimates only (the IRS will determine the final amount). We recommend that you consult a finance professional for a more personal estimate.

Child Discount Calculator for 2021

Use data from your 2019 or 2020 tax return.

1. Choose your filing status below.

Note: If your AGI is less than or equal to $ 75,000 as a single file, $ 112,500 as a householder, or $ 150,000 jointly, you will receive the full amount. For incomes greater than $ 150,000, your child discount payments begin to taper off by $ 50 for every $ 1,000 in income above the threshold.

Can parents choose to opt out of the monthly payments?

If you prefer to receive the money from your 2021 child discount in one go, you can unsubscribe from monthly payments once the IRS opens the online portal to help you make that decision and enter other information, such as if your AGI or other changed circumstances. The IRS is expected to open its child tax credit website by July 1.

Opting out means that instead of receiving $ 300 a month for your 3-year-old, and the rest of your money in 2022, for example, you can wait until next year to file your tax return for the full $ 3,600. to claim.

What you need to know for a child who will be older than a pay group in 2021

If you have a 5-year-old who turns 6 by the end of the year, the total payment amount you can get for that child is $ 3,000. If you have a 17-year-old who turns 18 before the end of the year, you would receive a total of $ 500 for that dependent instead of $ 3,000.

There is more information on this qualifications that your child must meet so that you can receive advance payments. If you have a dependent who is a full-time student and turn 25 this year, you will not receive any compensation for them.


If you ever had a baby in 2021, you can claim up to $ 3,600 for your new addition.

Sarah Tew / CNET

Parents with newborns in 2021: details on the main child discount

With children born in 2021, you qualify for the 2021 tax credit of $ 3,600 per child (that’s up to $ 7,200 for twins). That is in addition to the payments for other qualified dependent children that you claim. Here’s our guide to it parents of 2021 babies, including what parents of adopted babies should know.

Information about overpayments and incomes that you should be aware of

Your family’s eligibility is largely determined by your adjusted gross income. So what happens if you get a new job or start making more money in 2021? What happens if the payments have already been made and you have spent the money?

The IRS has a plan for this, a child discount portal that the agency will make available July 1 so you can update your data. If you need to make an adjustment, the payment amounts you receive when you get a new income will be decreased reaches the phase out level, according to Garrett Watson, a senior policy analyst at Tax Foundation.

If you wait until 2022 to update your information when you file your tax return and you continue to receive the full amount based on your lower income, you should either have to pay back the excess money on your 2021 tax return next spring, according to Watson, accept a smaller refund due in 2021 or more in taxes.

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The 2020 tax returns determine the total of your child tax credit

You must have your 2020 taxes to get the credit if you are a non-finder. The IRS will automatically make the payments for those who have filed their taxes through the May 17 tax expiration dateIRS Commissioner Charles Rettig said. So if you haven’t filed your tax return by then, the IRS won’t know whether to send you a payment. If you are planning one tax extension, you can probably use the IRS portal, where you can update your information in case you’ve been charged since the last tax return.

Additional eligibility requirements for your family members

There are some specific rules regarding qualifications not only for parents and guardians, but also for the children. Here’s What You Need to Know dependent qualifications for the child discount. And here’s how you can get back up to $ 50,000 through one-time credits and benefits.

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