News from Representative Larson

Dear Friends,

Benefits from the American Rescue Plan, signed into law back in March of this year, are continuing to be rolled out. 

The American Rescue Plan significantly expanded the federal Child Tax Credit (CTC) for this year to help families during these difficult times. This historic expansion is expected to cut child poverty in half. Connecticut’s own, Representative Rosa DeLauro, fought long and hard for this provision. We will continue to fight to make it permanent. 

This week the IRS announced eligible families, which include 88 percent of all children in the U.S., will receive automatic monthly payments of the refundable Child Tax Credit. For tax year 2021, eligible families will receive up to $3,000 per qualifying child between the ages of 6 and 17 and up to $3,600 per child under 6. 

Half of the credit will be distributed in monthly installments through December 2021. Families will receive the second half when they file their 2021 taxes in the  spring of 2022.  

The first monthly payment will be electronically deposited in bank accounts or mailed automatically for most families on July 15th, with subsequent payments coming on the 15th each month through December. Families will receive $300 a month per child under age 6 and $250 a month per child for children ages 6 to 17.  

Families who have not filed taxes and have not sent the IRS information to receive their Economic Impact Payment stimulus will need to submit their information to the IRS in order to receive these benefits. Additionally, families whose tax status has changed between 2020 and 2021 in a way that impacts eligibility will also have to submit information. 

Examples of eligibility changes are:  

  • families who have had a new baby this year; 
  • parents who do not file taxes together and rotate who claims the Child Tax Credit for a shared child; 
  • individuals whose income has dropped and who are now eligible for the full or partial credit. 

Next month, the IRS will open two portals on their website, IRS.gov, for individuals to submit the needed information to receive benefits. Again, the majority of families will not need to take any action. 

I am proud to have fought for the American Rescue Plan in Congress because of how much it is delivering to the American people and will continue to share updates as it is implemented. To learn more about the Plan, click here. To follow what I’m working on both in Washington and in Connecticut, visit my Facebook pagefollow me on Twitter, or follow me on Instagram

Regards,
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John B. Larson
Member of Congress

 

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