This depends on the age of the child dependents living in your home. Families receive:
- $3,000 for each child dependent age 6-17
- $3,600 for each child dependent under age 6
In previous years, the CTC was $2,000 for any child dependent under the age of 17. So, this is a sizable increase, especially for parents with young children in the home.
The advance payments will be half of the total child tax credit that parents and guardians are eligible to receive. So, if you have one child aged 10 in the household, you will receive $1,500 total in advances or $250 per month. If you have a child aged 5, you would receive $1,800 or $300 per month.