Be Aware of Child Tax Credit Scams
Advance Child Tax Credit & Scams
To help parents during the pandemic, the Child Tax Credit has been expanded under the American Rescue Plan Act. This means that many families will receive advance payments starting July 15, this opportunity is confusing and scammers are already are jumping into the game with attempts to capture personal information from you.
What is the Child Tax Credit (CTC)? The CTC is available if you claim any children younger than 17. The CTC has been $2,000 per qualifying child. For 2021, the amount will increase to $3,600 for children ages 5 and under and $3,000 for children ages 6 through 17. Note, the CTC amount is based on income.