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Invest in Your Child’s Future with the

Enhanced Child Tax Credit

Use Your Monthly Child Tax Credit Payments for Catholic School Tuition

June 23, 2021

There was good news for families with children contained in the $1.9 trillion American Rescue Plan signed into law in March. Included are enhancements to the Child Tax Credit that increase its value, make it available to families with older children and make it fully refundable. Half of the credit will be distributed to families as monthly cash payments beginning in July. The other half will be credited at tax time next spring.

These changes make a Catholic education now more affordable than ever. Parents may use 2021 Child Tax Credit cash payments to invest in their children’s future.

The Child Tax Credit has been expanded to $3,000 per child aged 6-17 and $3,600 per child younger than 6. All working families will get the full credit if they earn up to $150,000 for a couple or $112,500 for a family with a single parent. 

Families are automatically enrolled to receive the Child Tax Credit if they earn enough money to be required to file taxes. If you filed taxes in the last two years or used the IRS “Non-Filer Portal” to get a stimulus check last year, the IRS will automatically send you six monthly payments by direct deposit or check July through December 2021 – at $250 per child aged 6-17 or $300 per child younger than 6. You claim the remaining credit when you file your 2021 taxes.

If you are a low-income family not making enough money to be required to file taxes, visit ChildTaxCredit.gov – an online tool to sign up for the Child Tax Credit with the IRS.

Additionally, for the 2021 tax year, the Child and Dependent Care Credit allows families to claim up to 50 percent of up to $8,000 of childcare costs for a child younger than 13, if both parents are working, full-time students or looking for work. Preschool tuition and Before/After-School Care are considered dependent care, and for the 2021 tax year, the credit is refundable.

Invest in your child’s future. Use these credits to pay for Catholic school tuition and care at one of the Diocese of Joliet’s 53 Catholic schools located throughout DuPage, Will, Kendall, Grundy and Kankakee counties. Learn more or find a school near you at www.WeTeachMore.org

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