How Much Money Will I Receive From The Child Tax Credit?
skynesher / Getty Images  The amount you are eligible to receive depends on a number of factors like income and the number and ages of dependents. Heres everything you need to know. Find Out Before the First Payment on July 15  Find: IRS Updates Child Tax Credit Direct Deposit Portal  In order to receive the full benefit amount of $3,600, you will need to meet the income threshold of $75,000 or under for single filers and claim dependents from 5 years of age and under. This means under 6 years of age i.e. 5 years and 11 months, 5 years 11.5 months, etc. The income threshold for joint filers is $150,000 and under. In order to receive $3,000, the same income thresholds still apply, but the dependent ages are different. You will be able to receive $3,000 for each dependent aged 6-17 years of age. Discover: Making the Child Tax Credit Permanent Would be a Boost to the Economy, According to Some Experts  Save for Your Future  Important to note for divorced or separated parents  even if custody is shared, only one person can claim the tax credit. The child must live with that parent for more than 6 months a year in order to claim the credit. For other dependent children aged 18 and then full-time college children aged 19-24, parents can receive a nonrefundable credit of up to $500 for each dependent child. More From GOBankingRates