DETROIT – The child tax credit can be considered a game changer for families and worth hundreds of dollar a month for parents.
The IRS is working to ensure parents take advantage of it.
“This is a one-time deal for 2021 as part of the American Rescue Plan Act. This credit has been expanded, it’s more money now. The child tax credit is something that has been in effect for a number of years and will continue to but just for this year, it has been expanded,” said IRS spokesperson Luis Garcia.
Read: Boosted child tax credits to hit bank accounts starting July 15: What to know
Read: Beware of scammers trying to take child tax credit payments
“If you are, let’s say, married, filing jointly, and make under $150,000 a year, that’s $300 per child, or if they’re between the ages 6 and 17, it’s $250 per child every month until the end of the year. You’re getting that money in advance as opposed to getting it in a lump sum.”
You can go on the IRS website to see if you qualify and what is needed to receive the money.
A free IRS tax prep day event will be 10 a.m.-7 p.m., on July 10 at the IRS Assistance Center, 500 Woodward Avenue in Detroit.
Watch the full report in the video above.