Casten, Underwood, Foster Release Video Urging Illinois Families to File Taxes Before May 17 to Get Their Advance Child Tax Credit Payments As Soon As Possible
Washington, DC – U.S. Congressman Sean Casten (IL-06), Congresswoman Lauren Underwood (IL-14), and Congressman Bill Foster (IL-11) released a video today urging all Illinois families to file taxes before May 17th, 2021 in order to access the Child Tax Credit and begin receiving advance payments as soon as July 1st.
The best way to ensure eligible families receive their payments is to file a 2020 tax return– even if they don't have earnings to report or don't normally file – because the Internal Revenue Service (IRS) needs information from tax returns in order to calculate and issue advance monthly payments.
- The American Rescue Plan expanded the Child Tax Credit to up to an annual $3,600 per child for children ages 0 to 5 and $3,000 per child for children ages 6 to 17, authorizing advance monthly payments beginning as soon as July and running through December ($300 a month per child for children ages 0 to 5, $250 a month per child for children ages 6 to 17)
- The child tax credit will benefit over 2.5 million Illinois children, lifting 153,000 children out of poverty
- 120,500 children in IL-06 could benefit from the advance monthly payments.
- 37,100 households in IL-06 could get an average total benefit of $2,600
- Families can get free help preparing and filing their taxes through free resources offered by ?The Volunteer Income Tax Assistance (VITA), Tax Counseling for the Elderly (TCE), and AARP Tax-Aide programs, including VITA College of DuPage location in Casten's district
"This pandemic has forced millions of parents to choose between taking care of their children or paying the bills--and with women's labor market participation currently where it was in 1989, the child tax credit will help ensure we don't lose 30 years of progress," said Casten. "The Child Tax Credit puts money into the pockets of hardworking parents sooner, to pay for childcare or put gas in the car so they can get to work and build better lives for their families. The best way to make sure you and your family receive monthly payments as soon as possible is to file a 2020 tax return before May 17th."
How Much are the Child Tax Credit Advance Monthly Payments?
The American Rescue Plan expanded the Child Tax Credit to up to $3,600 per child for children ages 0 to 5 and $3,000 per child for children ages 6 to 17.
The American Rescue Plan also authorized advance monthly payments of the Child Tax Credit through December 2021. Beginning as soon as July and running through December, qualifying families can get up to:
- $300 a month per child for children ages 0 to 5.
- $250 a month per child for children ages 6 to 17.
Families will get their remaining expanded Child Tax Credit when they file their 2021 tax return.
Who Qualifies for the Child Tax Credit Advance Monthly Payments?
Families will qualify for a full credit if their income is below $75,000 for single filers, $112,000 for people filing as head of household, or $150,000 for people who are married and filing jointly.
- To be eligible, children must:
- Have a Social Security number,
- Live with you for at least half of the year,
- Be under age 18 as of December 31, 2021, and
- Be claimed on your tax return.
- Children are eligible if they are your children, adopted children, stepchildren, half-siblings, foster children, grandchildren, nieces or nephews, or certain other relatives. The adult filing taxes must have a Social Security Number or an Individual Taxpayer Identification Number.
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