Should you opt in or out of the Monthly Payment Option for your CTC Payment scheduled to begin in July?
Background
For 2021 and beyond, the Child Tax Credit (CTC) has increased from $2,000 per child to either $3,000 or $3,600 per child depending on if their age.
IRS has promised that starting in July, you can elect to have that directly deposited into your bank account monthly as opposed to claiming it on your 1040
Are you eligible?
Kiplinger has set up a very quick and easy site to determine if you are eligible and they also can project the credit and payment amount <<<Click Here>>>
IRS has set up a website for you to determine if you are eligible <<Click Here>>
