Advance child tax credit 2021: See if you’ll receive $500, $3,000 or $3,600 for

You don’t have to wait for your first child tax credit payment to arrive in July to see how much money you will receive for each qualifying child and dependent. If you and your family are eligible, CNET’s child tax credit calculator can help you estimate your monthly and total payments, before that first batch of payments arrive. (Here are some ways to use the money when it comes.)

Half of the total amount you’ll receive with the advance tax credit will come in monthly payments through the second half of 2021, with the remainder arriving in 2022, as part of March’s $1.9 trillion stimulus law. (President Joe Biden is pushing for the payments to be extended to 2025 in his next two stimulus proposals.) If you want, you can choose to opt out of monthly payments and receive just one payment in 2022 through a portal the IRS is expected to roll out by July 1.

If your taxes were filed before the new American Rescue Plan was passed in March, you shouldn’t need to file an amended tax form. (Track your tax status with the IRS.) The IRS is still sending stimulus checks and “plus-up” payments, but will soon be able to focus on the child tax credit payment details. While you’re here, see how to find out if the IRS has an unclaimed tax refund for you and how some could save up to $50,000 on their taxes this year. Also, here’s how you can get up to $16,000 back for child care expenses. Here’s what we know about a fourth check and what is happening with student loan forgiveness. This story is frequently updated.

Now playing:
Watch this:

Child tax credit: How much are you getting?

3:52

Calculate your amount for the child tax credit payment for 2021 and 2022

The revised child tax credit raises the 2020 limits from up to $2,000 per child to a maximum of $3,600 — but the math gets complicated fast. Qualified children aged 5 and under count for $3,600. Kids between 6 and 17 years old count for $3,000 maximum per child; 18-year-olds and full-time college students 24 and under can bring parents a one-time $500 payment. 

Enter your details below, including your adjusted gross income, or AGI, to see your payment breakdown. This calculator does not store or use your data. The results are based on our current knowledge of the law and should be treated as broad estimates only (the IRS will determine the final amount). We suggest consulting a financial professional for a more personalized estimate.

Note: If your AGI is less than or equal to $75,000 as a single filer, $112,500 as a head of household or $150,000 filing jointly, you’ll receive the full amount. For incomes higher than $150,000, your child tax credit payments will begin to phase out by $50 for every $1,000 of income over the…