Monthly Child Tax Credit Payments: Who’s Eligible, and How Much Could They Get?

Millions of American families will begin to receive monthly cash payments Thursday as part of the $1.9 trillion coronavirus relief package that President Joe Biden signed into law in March.

The payments are an expansion of the Child Tax Credit, and will continue for a year before requiring congressional renewal. As many as 90% of American families are eligible to receive hundreds of dollars a month for each child they have, and some experts believe that the policy could ultimately cut child poverty in half.

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Most Americans with Children to Receive Monthly Federal Payments Starting in July

Man with two children

Millions of American families will receive hundreds of dollars in regular federal payments beginning next month, the Internal Revenue Service said Monday.

The IRS announced July 15 as the start date for monthly child tax credit payments that would affect the vast majority of Americans with children.

“Eligible families will receive a payment of up to $300 per month for each child under age 6 and up to $250 per month for each child age 6 and above,” the IRS said in a statement.

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