Breaking News
More () »

Charlotte's Leading Local News: Weather, Traffic, Sports and more | Charlotte, North Carolina | WCNC.com

Child tax credit expanded under stimulus bill: How it works

President Biden's $1.9 trillion stimulus bill includes child tax credit payments to parents for kids. Here's who qualifies and how much you could get.

CHARLOTTE, N.C. — The federal government is still working on sending out the $1,400 stimulus checks from President Joe Biden's $1.9 trillion COVID-19 relief bill, but there are some other benefits included in the package, such as the expanded child tax credit

Families with kids could soon be getting thousands of dollars thanks to the stimulus bill that passed in March. The modified tax credit includes direct cash payments to parents, but they won't see that money for a few more months. 

The bill expanded the tax credit you get for having kids but calculating how much you'll get is a little complicated. Basically, it depends on a child's age. 

Click here to sign up for the daily Wake Up Charlotte newsletter

Who qualifies for child tax credit payments

Kids 5 years old and younger qualify for the full $3,600 credit. Then it's $3,000 for kids ages 6-17. Also, 18-year-olds who are still dependents qualify for $500. 

RELATED: Could there be a fourth stimulus check? Momentum grows in Congress, reports say

Income limits put on new child tax credit benefit

How much parents make matters, too. If you're single, you need to make $75,000 a year or less to get the full amount. For joint filers, the limit is $150,000. 

If you make more, the amount you'll receive per child decreases as your income rises, and in order to qualify for these payments, you must file your 2020 income taxes

RELATED: You may be owed money on your 2017 taxes, but you have to move fast to collect

When will the payments be received?

You won't get the full amount at once. The money will be split between 2021 and 2022, government officials say. This year's portion is expected to start going out in July and will be paid periodically, though right now there is no set schedule.