The Internal Revenue Service’s child tax credit portal was exclusively available in English until now. A Spanish version of the portal is now available promptly before the Nov.29 deadline to update or change personal information as the Dec.15 payment emerges.

A credit for $3,600 for children under the age of 6, and $3,000 for children ages 6-17 are available to families. Under the American Rescue Plan, most eligible families began receiving monthly payments in July and the rest is due to come next year. Payments of $300 for each child under 6 and $250 for children up to the age of 17 will be distributed to eligible families who did not opt-out of the monthly payments. The original lump sum was $2,000 per child prior to the American Rescue Plan.

According to the IRS, the credit could be reduced to $2,000 per child at incomes of $75,000 for individuals, $112,500 for heads of household and $150,000 for married couples who file taxes jointly. The amount is based on 2019 or 2020 tax returns, whichever was most recently received by the IRS. Although the deadline to sign up to receive monthly payments passed, people who didn’t file returns could use non-fillers tools. 

The child tax credit is currently a part of the Build Back Better package which was signed by the House on Nov.19, but must go through the Senate where further action can be made. The increased the size of the tax credit as part of his $1.9 trillion coronavirus relief package, as well as making it fully available to families who did not owe the government income taxes were also unable to claim the credit. 

The benefit is set to expire after a year, but Biden aims for it’s extension through 2025 and for it to be permanent. The original lump sum of $2,000 will be distributed throughout 2022 if the monthly payments are not extended.


Leave a comment

Your email address will not be published. Required fields are marked *