When Do We Get the August Child Tax Credit?
- What is the August child tax credit?
- Who is eligible for the credit?
- How do I claim the credit?
- What if I have already filed my taxes for the year?
- How do I know if I am getting the credit?
- What if I don’t have a Social Security number?
- Can I get the credit if I am not a U.S. citizen?
- What if I have questions about the credit?
When Do We Get the August Child Tax Credit? If you’re expecting a child tax credit this summer, you might be wondering when you’ll get the money.
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What is the August child tax credit?
The August child tax credit is a one-time payment that helps families with the costs of raising children. It is a refundable credit, which means that if you owe no taxes, you can still receive the credit as a tax refund. The credit is worth up to $1,000 per child and is based on your income and the number of children you have. To qualify, your child must be under the age of 18 and be a U.S. citizen or resident alien. If you have more than one child, you can claim the credit for each one.
The August child tax credit was created by the Tax Cuts and Jobs Act, which was signed into law in December 2017. The credit is available for children born on or after January 1, 2018. The credit is scheduled to expire after December 31, 2025.
Who is eligible for the credit?
The Child Tax Credit is available to taxpayers who have a dependent child under the age of 17. A qualifying child must be a son, daughter, stepchild, foster child, brother, sister, half brother, half sister, or a descendant of any of them. The child must also live with the taxpayer for more than half the year and cannot provide more than half of their own support for the year.
How do I claim the credit?
To claim the credit, you must file a federal income tax return, even if you do not owe any tax. You will need to complete and attach Schedule 8812 (PDF), Child Tax Credit, to your return.
What if I have already filed my taxes for the year?
If you have already filed your taxes for the year, you can still claim the August child tax credit by filing an amended return. You will need to include a form 8863 with your amended return.
How do I know if I am getting the credit?
The IRS will send you a notice or letter if you are getting the credit. The notice will tell you how much you are getting and when you will get it. If you do not get the credit, the notice will tell you why.
What if I don’t have a Social Security number?
If you’re not required to file a tax return, you don’t need a Social Security number to get the credit. The IRS will send you a payment automatically based on the information in your Form SSA-1099 or Form RRB-1099.
Can I get the credit if I am not a U.S. citizen?
To claim the child tax credit, you must be a U.S. citizen or resident alien for the entire tax year. You cannot claim the credit if you are a nonresident alien for any part of the year, even if you meet all the other requirements.
What if I have questions about the credit?
The Internal Revenue Service (IRS) has a special section on their website with information about the child tax credit. You can find this information at www.irs.gov/credits-&-deductions/individuals/child-tax-credit. The IRS also has a toll-free number that you can call if you have questions about the credit. The number is 1-800-829-1040.