Editor’s note: The interview in this story has been translated from Spanish to English.
HARLINGEN, Texas (KVEO)—The White House has designated June 21 as Child Tax Credit Awareness Day to ensure eligible families know about the American Rescue Plan’s expansion.
An estimated 39 million American families are set to receive monthly payments from the IRS beginning on July 15, as part of the expanded child tax credits.
ValleyCentral.com spoke to Julissa Reynoso, Chief of Staff to the First Lady Tuesday.
“The American Rescue Plan increases the child tax credit to $3,000 for families whose children are between six to 17 years old and $3,600 for families with children under six years old,” said Reynoso in Spanish.
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.
“Instead of receiving the amount next year, the person will receive it starting in July in monthly payments,” said Reynoso. “Until they arrive at $3,000 or $3,600 per child, meaning the person does not need to pay anything. ”
“It is the benefit a person would normally receive, with the difference that it will arrive now in July, in higher amounts, and on a monthly basis,” said Reynoso.
Almost all families who have filed taxes in the last two years will receive this tax cut automatically.
“There has been a significant increase with this credit,” said Reynoso. “Before families would receive the payment after filing taxes at the beginning of the year, now payments will be received in July.”
By 2021, couples earning $150,000 or less can receive the full payments on the 15th of each month, in most cases by direct deposit.
The IRS will determine eligibility based on the 2019 and 2020 tax years, but people will also be able to update their status through an online portal.
The administration is also setting up another online portal for non-filers who might be eligible for the child tax credit.
“There are certain people that do not file taxes,” said Reynoso, “Some people do not complete their tax form because they do not earn enough, these people also deserve to receive this benefit, and need to fill out a form as soon as possible.”
President Joe Biden has proposed an extension of the increased child tax credit through 2025 as part of his $1.8 trillion family plan.
To sign up, go to ChildTaxCredit.Gov. The page provides information, in both English and Spanish.