The President signed into law the American Rescue Plan, which continues to provide immediate relief to American families and communities. This child tax credit will not only assist nearly all working families to make ends meet, but tax credits for working families have been shown to boost child academic and economic performance over time.
Beginning last week, July 15, families will receive monthly payments of $250 to $300 for each child and to help families make ends meet.
Additionally, H&R block has released a child tax credit calculator to tell you how much money you might receive in advance of the monthly payments in 2021 and how much of the credit you’ll claim when you file your return next year.
