4 Changes to the Child Tax Credit , That Are Part of Biden's <br />American Rescue Plan.<br />President Joe Biden signed the <br />$1.9 trillion COVID-19 relief legislation <br />into law on Thursday afternoon.<br />Here are four changes to the <br />child tax credit this year.<br />1, There is a significant <br />increase in the amount.<br />The tax credit has been increased from <br />a single amount of $2,000 to either <br />$3,000 or $3,600 depending on the age of the child.<br />2, The age range <br />has changed.<br />Rather than a flat credit for children 17 and under, children <br />six and under are credited with the larger amount, with <br />$3,000 being credited to older children up to the age of 17.<br />3, The child tax credit is <br />now fully refundable.<br />This is different from prior tax seasons <br />in which the credit was partially refundable.<br />4, The way the credit is <br />dispersed has changed.<br />Rather than a lump sum, <br />if families receive a refund, the child tax credit will be <br />dispersed as periodic payments beginning as soon as July
