Pierog: Kane Residents Should Be Aware of New Federal Tax Credit of Up To $3,600 Per Child

Pierog: Kane Residents Should Be Aware of New Federal Tax Credit of Up To $3,600 Per Child

Kane County officials are helping to spread the word about June 21 Child Tax Credit Awareness Day — a day of action to inform citizens about the new monthly payments of $250 to $300 for each child included in the federal government’s American Rescue Plan.

Corinne Pierog

Kane County Board Chair Corinne Pierog says the Child Tax Credit Awareness Day will:

  • Ensure Kane County residents know about this major tax relief — $3,000 to $3,600 per child — for nearly all families.
  • Promote the efforts to extend these benefits.
  • Help give children a lifeline out of poverty by assisting eligible low-income families in signing up for Child Tax Credit benefits using a new, simple sign-up tool.

According to a White House news release, the Child Tax Credit provides tax relief for nearly all working families.

  • All working 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 (also called head of household).
  • The Child Tax Credit has been expanded to $3,000 per child ages 6 to 17 and $3,600 per child under 6.
  • Roughly 39 million households – covering 65 million children (nearly 90% of children in the United States) – will automatically receive the new child tax credit.
  • Starting July 15 and through the rest of the calendar year, payments will be monthly (via direct deposit for 80% of families and through the mail for the others) – at $250 per child between 6 and17 or $300 per child under 6.
  • The IRS has launched a simplified online tool which will allow families not automatically enrolled in the program to receive the Child Tax Credit – more information at ChildTaxCredit.gov.

Some federal, state and local officials are also hoping the Awareness Day will encourage legislators to extend the plan beyond this year. The new Child Tax Credit enacted in the American Rescue Plan is only for 2021.

The Awareness Day is designed to highlight the easy sign up for low-income families, which they believe will cut child poverty in half.

Low-income families with children are eligible for this tax relief – including those who have not made enough money to be required to file taxes

If a couple makes under $24,800, a head of household makes under $18,650, or a single filer makes under $12,400, and they have not filed their taxes, there is a simple, easy tool to sign up for the Child Tax Credit. Learn more at at ChildTaxCredit.gov.

“June 21 will be a day for elected officials, local leaders, faith organizations, community groups, and organizations that fight for children to share their plans for raising awareness of the Child Tax Credit far and wide,” the news release said.

SOURCE: www.whitehouse.gov/child-tax-credit/