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What NWCU Members Need to Know About the 2021 Child Care Tax Credit

What is the Advance Child Tax Credit?

Beginning July 15, 2021, families that qualify will receive their first monthly Advance Child Tax Credit payment. To see whether you qualify, use the IRS’ qualification tool.

Families can claim the rest of the credit when they file 2021 taxes in 2022. Please see a tax specialist or professional if you have questions about claiming the Advance Child Tax Credit on your 2021 taxes.

If you’re an NWCU member with a question about your Advance Child Tax Credit, please note that many other members may have questions as well, and so our hold times for our phone center may be long. If you're not an NWCU member, please visit IRS.gov for information.

How Can I Get an Advance Child Tax Credit?

You can see whether you’re eligible for the Advance Child Care Tax Credit at IRS.gov.

If you haven’t submitted tax returns, you can submit your information for a credit at IRS.gov.

To see more information about eligibility for the tax credit, check out 2021 Child Tax Credit and Advance Child Tax Credit Payments Frequently Asked Questions at IRS.gov.

What Do I Do to Prepare for the Advance Child Tax Credit?

  1. Get online. Enroll in online banking or download our mobile app so you can check on whether your tax credit is pending in your account.
  2. Did you file previously with direct deposit for a tax refund? You'll automatically receive your Advance Child Tax Credit deposit in your open, active NWCU account under your membership with matching name. Even tiny errors in account information could cause a delay in receiving your full or partial payment.
  3. Update your contact information with NWCU inside online banking with the best contact information.
  4. Watch Out for Stimulus Check Scams
    • If you are contacted by anyone to fill out a form regarding your stimulus check or anyone asks you to provide an account number for your credit, it’s likely fraud.
    • The IRS will not call you seeking your account information to deposit funds. They will use direct deposit to the account last used for your tax refund in prior years; or, they will send out letters and/or mail a paper check. Do not give out your personal banking information to any caller.
    • NWCU will not call or text you asking for your online banking credentials (user id, password, card number). Do not give out your personal banking information. We will verify you in other ways. Not sure? Hang up and call NWCU!

We’re here to help you. You can trust that all deposits at Northwest Community Credit Union are covered by the NCUA for up to $250,000 per individual depositor.