Monthly Payments are Coming!!! 7 Things You Need to Know about the Child Tax Credit in 2021!

Monthly payments are headed to low income households, thanks to changes to the Child Tax Credit in 2021! This is basically a monthly stimulus payment for low income families and I’m so excited to give you all the details in this video.

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00:00 Intro
00:55 American Rescue Plan Overview
01:32 Change #1: Larger Credits
02:24 Change #2: Fully Refundable
02:52 Change #3: Income Requirements
03:16 Change #4 More Children Qualify
06:03 Change #5 Monthly Payments
06:03 Change #6 Claiming Process
07:23 Change #7 Repayment Protection
08:19 Expected Launch Date

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Low Income Relief is a free information service that connects low income people across America with benefits, programs and resources in their local communities. Basically, we help millions of people save money and get free stuff every year!

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Monthly payments are headed to low income households, thanks to changes to the Child Tax Credit in 2021! This is basically a monthly stimulus payment for low income families and I’m so excited to give you all the details in this video.

I’m Nicole from Low Income Relief, where we help millions of people save money and
get free stuff.

In this video, we’re going to review a few of the critical changes and what you need to do in order to claim those monthly payments. It’s important that you stick around until the end of the video, or you may miss important steps you need to take in order to recieve those payments.

Before we launch into the video, though, please take a moment to smash that like button and enable notifications so you never miss another one of our important low income updates. We’re here to help people save money, get free stuff and make ends meet, and every single subscriber and viewer helps our message reach more people. Thanks!

Alright, let’s get started.

The American Rescue Plan that President Biden signed in March made some enhancements to the child tax credit. The changes are temporary and only apply to the 2021 tax cycle unless Congress extends them or makes them permanent.

Before the changes, families who met the income requirements could receive up to $2,000 in tax credits per qualifying child as long as they met certain income requirements. The income requirements were $200,000 for a single adult or $400,000 for married adults who filed jointly. The amount of the credit was reduced by $50 for every $1,000 of income they earned over those limits.

The general structure of the child tax credit remains in place but some important details have changed. And these changes mean that low income families could start to receive a monthly check later this year!

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