When does the child tax credit end?

The child tax credit is one of the most popular tax credits individuals and families with qualifying children can claim. There have been changes made to the credit to help families keep up with the cost of keeping up with children.

The changes made to the child tax credit nearly doubled the credit amount and allowed taxpayers to receive advance payments. You’re eligible to claim up to $3,600 in child tax credit for every child aged under six years old. For children that’s over 6, the CTC is $3,000. 

Another change that was made is the age limit. Prior to the changes, you couldn’t claim the child tax credit after the qualifying children turn 17 by the end of the tax year. That’s been increased to 18, enabling taxpayers to claim the credit for an additional year.

When do child tax credit payments start and end?

The advanced child tax credit payments started on July 2021 and will continue until the end of the year. After the year ends, the Treasury will send the advance child tax credit payments on the 15th of every month. 

Having said these, there is no end for the child tax credit as far as the advanced payments go. If you’re eligible for the full tax credit, you can continue to receive the advance payments at the start of the new tax year. Take note that the amount won’t change, and you’ll receive the same amount you’re receiving now.

However, suppose you’re not qualified to get the full credit. In that case, you will get the same amount as anybody else, resulting in owing the Internal Revenue Service for the excess amount received. Make sure to opt-out of the child tax credit payments if you’re not eligible for the full credit. You can do this by using the unenroll button on the CTC online tool.

If your child tax credit payment is missing, you can give the Internal Revenue Service a call regarding the credit.