Financial reliefs for your family

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Child Tax Credit

The Child Tax Credit (CTC), expanded by the American Rescue Plan Act of 2021, offers payments between $3,000 and $3,600 for each eligible minor to families who meet certain criteria.

If you have dependent children or minors and meet the eligibility criteria, the Child Tax Credit can provide additional financial relief to help you address any need.

Who is eligible?

All families with children or dependent minors of ages 17 or younger and meeting certain income eligibility criteria may receive the full amount of the credit.

How much money can I receive?

Eligible families can receive up to $3,000 per child or dependent minor ages 6 to 17 and $3,600 per child or dependent minor ages 0 to 5.

How do I claim it?

The CTC is not automatic. You must file a federal tax return with the Internal Revenue Service (IRS) using Form 1040PR or 1040SS, as applicable.

When should I claim it?

The period to file the federal tax return and claim the 2021 credit begins in January 2022 and ends on April 18, 2022.

Visit the Instituto del Desarrollo de la Juventud website (only in Spanish) for more details on eligibility, how to file the federal return, and more.

Earned Income Tax Credit

The Earned Income Tax Credit (EITC) is another of the approved initiatives within the American Rescue Plan that apply to Puerto Rico.

Who is eligible?

Residents of Puerto Rico, 19 years of age or older, who have worked during the year 2021 and whose 2021 earned income is lower than $40,000 ($44,000 for married couples filing jointly).

How much money can I receive?

If eligible, you can receive up to a maximum of $6,500.

How do I claim it?

You must claim it on the Individual Income Tax Return to be filed with the Department of Treasury.

When should I claim it?

You have until April 18, 2022, which is the due date for filing the Income Tax Return.

Get your money faster

Receive your Child Tax Credit and Earned Income Tax Credit payments with a Banco Popular checking or savings account. Find the account that best suits your needs.

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