Child Tax Credit 2021
The IRS is set to begin disbursing child tax credit checks to eligible families with children 17 or under starting July 15th. The governments effort to use the tax code to provide additional financial help to low and moderate income families is part of the new enhanced credit.
This expansion of the Child Tax Credit that's been in existence since the late 1990's is just a way to put money back in millions of families banks in an effort to help with ongoing financial difficulties as a result of the pandemic.
The credit is $2,000 to $3,600 for each child under 6 or $3,000 for children ages 6 to 17. It also makes the CTC "refundable," which means that people can get it even if they don't owe federal income tax, which will increase the number of low-income households that qualify for the payments, according to and article on Cbsnews. You can find more information on qualifications as well in the article.