{"id":4375,"date":"2021-04-17T08:45:09","date_gmt":"2021-04-17T08:45:09","guid":{"rendered":"https:\/\/www.irstaxapp.com\/?p=4375"},"modified":"2021-07-06T10:29:09","modified_gmt":"2021-07-06T10:29:09","slug":"2021-child-tax-credit-calculator","status":"publish","type":"post","link":"https:\/\/www.irstaxapp.com\/2021-child-tax-credit-calculator\/","title":{"rendered":"2021 Child Tax Credit Calculator"},"content":{"rendered":"\n

The recently passed third stimulus relief<\/a> package, known as the American Rescue Plan, greatly expanded the Child Tax Credit. Beginning with your tax year 2021 taxes (the ones filed in 2022), now you get additional CTC of the amount of $1000 ($1600 in some cases) to the already allowed $2000 of the child tax credit in the tax year 2021. <\/p>\n\n\n\n

So, every eligible parent may receive a fully refundable $3,000 annual benefit per child ages 6 to 17 and $3,600 per child under 6. <\/strong>You can claim $500 for each child aged 18 and for full-time college students between the ages of 19 and 24.<\/p>\n\n\n\n

Unlike year 2020 , this additional child tax credit for 2021 is fully refundable as per the American Rescue Plan Act. <\/strong>In year 2020 ,if taxpayers\u2019 child tax credit exceeded the total tax liability for the year , then law allowed only up to $1,400 as a refund. Under the new rules for year 2021 , a taxpayer can receive the full $3,000 or $3,600 per child, depending on the child\u2019s age.<\/p>\n\n\n\n

No income, no problem! <\/strong>Contrary to earlier conditions set for 2020 that a person claiming child credit must have earned at least $2,500, the new child tax credit rule for 2021 allows households with no income to claim the CTC credit. <\/p>\n\n\n\n

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