NYC Free Tax Prep can help those who need to file taxes in order to receive the Child Tax Credit.
Beginning July 15th, the IRS will begin monthly distributions of up to $300 per child as part of the expanded Child Tax Credit (CTC) created by the American Rescue Plan Act. Families can get half of the fully refundable credit—worth up to $3,600 per child (under age 6) or $3,000 per child (ages 6 to 17)—as monthly payments in 2021 and the other half as part of tax refunds in 2022.
An estimated up to 400,000 children could miss out if their parents/guardians don't sign up with the IRS this summer or fall. This includes families with very low or no incomes, families with mixed immigration statuses, and federal beneficiaries.
Click here for a guide to find which NYC Free Tax Prep is right for you.
Click here for more information on the Child Tax Credit.