Child Tax Credit Was Expanded Under the American Rescue Plan Peters Helped Pass; Payments Set to Begin July 15th
DETROIT, MI – U.S. Senator Gary Peters (MI) Wednesday urged Michigan families not to miss out on the additional benefits that will be provided by the Child Tax Credit expansion. The expansion was signed into law as part of the American Rescue Plan, which Peters helped pass in the Senate.
Most American families will be eligible for the monthly payments, which will begin on July 15th, 2021, and last for one year. Eligible families will get $250 each month for each child 6-17 years old, and for every child under 6 years old, families will get $300 each month. Families will get the full credit if they make up to $150,000 for a couple or $112,500 for a family with a single parent.
The payments will be deposited automatically for families who filed taxes in 2019 or 2020 – and for those families, no additional action is required. However, families that did not file taxes either year must sign up on the IRS website by July 15th in order to receive the full benefits. Families that sign up after July 15th will begin receiving the expanded support in the next monthly payment on August 15th.
To see the video, click on the link below.
Text of the public service announcement can be found below.
I wanted to let you know that through the historic American Rescue Plan legislation we passed with President Biden, we have expanded the Child Tax Credit.
That means Michigan families are now eligible to receive an additional payment of up to $300 a month per child for the next year.
Families with dependents who are 18 years old or full-time college students aged 19-24 can also claim a one-time payment of $500.
This is a great resource that I want to make sure you do not miss out on.
If you filed taxes in 2019 or 2020, you will receive these payments automatically beginning on July 15th. But if you do not file taxes, you may miss out on these payments if you don’t submit your information to the IRS.
For more information, you can visit: www.peters.senate.gov/childtaxcredit.