Is the Child Tax Credit (CTC) going away?
Most of it isn't—at least not yet. But some parts are.
In 2021, Congress significantly expanded the Child Tax Credit (CTC). The CTC is now worth up to $3,600 per child under six and $3,000 per child ages 6-17.
If you received monthly payments last year, you have only received half of your payments and need to file a 2021 tax return to get the rest of your money.
If you didn't receive monthly payments last year, you can get the whole CTC, even if you earn little or no money.
The changes Congress made were only for one year. That means that, unless Congress acts again, there will not be new monthly payments available this year. It also means that, when you file next year, the CTC will be reduced to $2,000 per child, and you might not receive as much if you have low income.