Recent changes mean that for the first time many families in Puerto Rico can claim the Child Tax Credit from the IRS. If for example you are raising a daughter, nephew, or grandchild the credit may be for you. Don't overlook it. This benefit can mean up to $3,600 for each child 5 years old or younger by the end of 2021 and $3,000 for each child between 6 and 17 at the end of 2021. How to claim it? The only way to claim the credit is filing a federal tax return. You must take this step even if you're normally not required to file and you've had little or no income. And even though you could claim the Child Tax Credit at any time before April 15, 2025, you don't have to wait. File now – and if you file electronically and request the direct deposit of your refund, you can get your money faster. Remember, we have lots of information to help you on the IRS website. You can get started at IRS.gov/puertorico.
