CHICAGO (WBBM NEWSRADIO) -- Monday's the deadline for parents to sign up for the Expanded Child Tax Credit.
The City of Chicago is reminding parents to take advantage of the expanded Child Tax Credit. The tax credit was part of the American Rescue Plan that was signed into law last March. It's $3,600 per child under 6 and $3,000 for children ages 6 to 17.
The first half of the tax credit will be paid out in monthly installments through December, and the rest will be paid after you file your tax return for 2021.
Families that filed their taxes in the last two years were automatically signed up, and have been getting monthly payments since July.
Additionally, parents who didn’t make enough income to be required to file taxes in 2019 or 2020 can still get the Child Tax Credit payments. Families can sign up by filing their tax return or by going to getctc.org to file a simplified return. Signing up will not affect an individual’s eligibility for other federal benefits like SNAP and WIC. The deadline to sign-up for 2021 monthly payments is Nov. 15, and those who do not sign up by then can claim the full credit when they file taxes next year.
The Tax Policy Center estimated that 2.3 million eligible children could be missing out on tax credit payments.
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