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Child Tax Credit

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How Much Advanced Child Tax Credit Will I Get?

Advanced Child Tax Credit Payments Information for Texas

Your total advance Child Tax Credit payment amounts will equal half of the amount of your estimated 2021 Child Tax Credit. This amount is then divided into monthly advance payments to you.

As a result:

  • For each of your qualifying children age 5 or younger, generally you will receive $300. That is determined by dividing $3,600 in half, which is $1,800. Six monthly payments of $300 will provide you with $1,800.
  • For each of your qualifying children ages 6 to 17, generally you will receive $250. That is determined by dividing $3,000 in half, which is $1,500. Six monthly payments of $250 will provide you with $1,500.
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Update Child Tax Credit Payments Direct Deposit Info

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How to Update Child Tax Credit Payments Direct Deposit Information

The Internal Revenue Service today upgraded a key online tool to enable families to quickly and easily update their bank account information so they can receive their monthly Child Tax Credit payment.

The bank account update feature was added to the Child Tax Credit Update Portal, available only on IRS.gov. Any updates made by August 2 will apply to the August 13 payment and all subsequent monthly payments for the rest of 2021.

Families will receive their July 15 payment by direct deposit in the bank account currently on file with the IRS. Those who are not enrolled for direct deposit will receive a check. The IRS encourages people without current bank account information to use the tool to update their information so they can get the payments sooner.

The IRS also urges people to be on the lookout for scams related to the Child Tax Credit. People who need to update their bank account information should go directly to the IRS.gov site and not click on links received by email, text or phone.

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2021 Advance Child Tax Credit Payment Information

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Earlier this month, the IRS began sending letters to more than 36 million families who may qualify for monthly Child Tax Credit advance payments. The IRS determines eligibility based on information provided on the 2020 federal tax return (or information from the 2019 tax return if a 2020 tax return has not been filed when the payments begin). Payments are scheduled to be begin on July 15, 2021. Subsequent payments are scheduled for August 13, September 15, October 15, November 15 and December 15.

The advance CTC payments will equal half of the total estimated CTC that the taxpayer will claim on their 2021 tax return. The payment amount is determined for each qualifying child as $300 per month for children under age 6 and $250 per month for children ages 6 to 17. Because the payments are advance payments of the taxpayer’s CTC for 2021, the amounts received will be reported on the 2021 federal tax return and will reduce the remainder of CTC the taxpayer will receive when they file their return.

Several tools will be available on IRS.gov for taxpayers to determine their eligibility, track the status of payments, and to opt-out of the advance payments. The IRS has already launched a Tool for Non-Filers to sign up to receive advance CTC payments if eligible, and a Child Tax Credit Update Portal to help taxpayers manage Child Tax Credit payments. An Eligibility Assistant has also been added to the IRS website to help taxpayers determine whether or not they are eligible for the advance payments.