Child tax credit checks set to roll out in July
(CNN) – The IRS will begin sending out payments this summer to some low- and moderate-income families, depending on the age of their children.
Starting in July, families will get monthly payments of $250 to $300. The payouts will continue through December.
The money is part of an increase to the 2021 child tax credit from the American Rescue Plan that passed in March.
Previously, the amount was $2,000 but has been increased to $3,000. Families with children under the age of 6 will get $3,600.
The change also allows 17-year-olds to qualify for the first time.
Copyright 2021 CNN Newsource. All rights reserved.