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Attention Parents: Don’t Miss Out on Your Expanded Child Tax Credit – Claim Up to $3,600 Before April 15!

March 21, 2025
Smart Money

Last Chance for Parents to Claim Expanded Child Tax Credit before April 15 Deadline

By Suzanne Blake, Newsweek Reporter

As the tax deadline approaches, parents who may have missed out on the expanded Child Tax Credit from 2021 are being urged to take action before the April 15 deadline. Originally offered as part of the American Rescue Plan under former President Joe Biden, the expanded Child Tax Credit provided significant financial relief to families. However, many parents might not be aware that they are still eligible to claim these funds—amounting to as much as $3,600 for each qualifying child.

Understanding the Expanded Child Tax Credit

In 2021, the federal government increased the Child Tax Credit from $2,000 to $3,000 for children over the age of 6, and for those under 6, the credit rose to $3,600. Despite this substantial increase, reports suggest that some parents have yet to claim the money, leaving them at risk of losing these tax benefits forever if they don’t file by the impending deadline.

According to a spokesperson from the Internal Revenue Service (IRS), taxpayers who qualify are still able to claim the expanded child tax credit for the 2021 tax year. The spokesperson emphasized that any tax benefit for a specific filing year can be claimed within a three-year window. However, it’s essential to act before April 15, as unclaimed refunds will revert to the Treasury after this date.

Eligibility Requirements

To qualify for the expanded Child Tax Credit in 2021, certain criteria must be met. The child must have been under the age of 18 at the end of 2021 and must possess a valid Social Security number. Additionally, the taxpayer must either be related to or have legal guardianship of the child. The child must have lived with the taxpayer for more than half the year, and the taxpayer cannot provide more than half of their own support. Income requirements also apply and may vary based on filing status—whether as head of household or jointly filing as a married couple.

To file a claim now, families will need to complete Form 1040-X (amended return) and include Schedule 8812. ## Expert Insights

Finance professionals are encouraging those who may have overlooked claiming the expanded Child Tax Credit to take immediate action. Kevin Thompson, founder of 9i Capital Group, noted, “If you had kids in 2021 and didn’t claim the expanded Child Tax Credit, you might still be able to get that money. It’s crucial to check your eligibility and file soon.”

Michael Ryan, founder of MichaelRyanMoney.com, praised the program as a unique success and added, “If you qualified but didn’t claim it on your tax return, there’s still hope! You have until April 15 to file an amended return and recover what could be thousands of dollars.”

Alex Beene, a financial literacy instructor at the University of Tennessee at Martin, acknowledged that while many families benefited from the credit during the pandemic, some missed out due to not filing correctly. "This is still a significant credit that eligible parents should not overlook, as it can provide essential financial support."

What’s at Stake

The IRS has reported approximately $1 billion in unclaimed tax refunds from 2021. If returns are not filed by April 15, this money will return to the Treasury. Importantly, families who did not owe taxes in 2021 may still receive refunds by filing now.

Ryan shared a compelling story of a family who discovered their newborn qualified them for the full $3,600. “They mistakenly thought they had missed the opportunity because they didn’t receive advance payments. When they filed that amended return, it was like finding money they never knew they had,” he recounted.

Conclusion

As the deadline looms, parents are urged to review their eligibility for the expanded Child Tax Credit and file their amended returns to avoid missing out on crucial financial assistance. Acting promptly could mean claiming up to $3,600 per qualifying child—a significant financial boon amid ongoing economic challenges.

For those seeking further information or assistance, contacting a tax professional may provide the necessary guidance to navigate this opportunity. Stay informed and take the necessary steps before the April 15 deadline.