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Child Tax Credit (CTC)

PER PARITY PR
The Child Tax Credit program can reduce the federal tax you owe by $1,000 for each qualifying child under age 17. REQUIREMENTS: You can make the most of credit only if your modified adjusted gross income es:
  • Single: less than $75,000 .
  • Head of household: $112,500 .
  • Married filing jointly: $150,000 .
How much can I receive in 2021? The IRS will use your most recent tax return to determine the age of your dependents and the amount of advance it will send you each month. Remember, the advance is only equal to half of the total credit and comes in six monthly payments that began in July and will end in December. You can claim the balance of the credit on your 2021 tax return. In 2021, the child tax credit offers:
  • Up to $3,000 ($250 per month) per qualifying dependent child age 17 or younger on December 31, 2021.
  • Up to $3,600 ($300 per month) per qualifying dependent child under age 6 on December 31, 2021.
Additional CTC Information:  Major changes to the Child Tax Credit will help many families receive advance payments of the credit beginning in the summer of 2021. The IRS will pay half of the full amount of the credit. in monthly advance payments beginning July 15, 2021.  For Residents of Puerto Rico CTC:  The maximum amount of the Child Tax Credit for 2021 has increased from $2,000 to $3,000 for children ages 6 to 17 ($3,600 for children age 5 or younger) at the end of 2021. You can claim this increased credit even if you have no earnings or pay U.S. social security taxes. The requirement to have 3 qualifying children was eliminated beginning in 2021, and you only need one qualifying child to claim the Child Tax Credit in:    Your child qualifies your family for the Child Tax Credit if:
  • The child is your child, grandchild, stepchild or foster child; younger sibling, step-sibling, half-sibling or your descendant. Or if it is a foster child placed with your family through a government agency.
  • The child was under 17 years of age at the end of 2020.
  • The child has a valid social security number.
  • The child lived with you for more than half of 2021.
  • The child did not provide more than half of his/her own support in 2021.

How do I receive the Child Tax Credit?

To provide advance payments of the Child Tax Credit, the IRS needs updated information about you and your children. If you file taxes in 2019 or 2020, or if you used the IRS Non-Filer Portal in 2020 to claim your stimulus payments, then the IRS has enough information to automatically send your advance Child Tax Credit payments to your family. If you have not submitted any information to the IRS in the last year, you can submit your information through GetCTC, a simplified tax filing portal, and receive your payments.   Reference CTC Puerto Rico:  https://www.getctc.org/es IRS:https://www.irs.gov/credits-deductions/2021-child-tax-credit-and-advance-child-tax-credit-payments-topic-i-us-territory-residents-and-advance-child-tax-credit-payments#:~:text=For%20Puerto%20Rico%20residents%2C%20how,(added%20June%2014%2C%202021)&text=The%20maximum%20Child%20Tax%20Credit,at%20the%20end%20of%202021. Get CTC: https://www.getctc.org/es
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