Last Day To Opt Out of First ACTC Payment

Brian SingletonBlog, Watch Your Wallet

https://www.cnbc.com/2021/06/28/last-day-to-unenroll-in-july-advanced-child-tax-credit-payment.html

The child tax credit payments, which were set up and expanded under the American Rescue Plan passed earlier this year, amount to $3,000 annually per child ages 6 to 17 and $3,600 annually for children under 6.

Eligible families will receive half of their credit in the form of monthly payments of up to $250 per school-age child and up to $300 per child under 6 from July through December 2021. The other half will be paid out when they file their 2021 taxes. The credit is income-based and starts to phase out for individuals earning more than $75,000 a year or $150,000 for those married filing jointly.