Federal child tax credit payments begin July 15
WASHINGTON, D.C — Federal child tax credit payments begin Thursday, July 15. The first half of the credit will come in monthly installments. Eligible families will get $250 a month from July through December for each child 6 to 17-years-old. For every child under 6-years-old, families will get $300 a month. The other half of the credit families will claim when they file taxes next year.
The tax benefit was expanded under the American Rescue Plan. The old amount was $2,000 per child. It goes up to $3,600 for each child under 6 and $3,000 per child ages 6 to 17.