As part of the stimulus package signed by President Biden in March, millions of families will begin to receive expanded child tax credit payments today. The IRS is set to begin sending monthly payments to qualifying families through the end of 2021. Families will also receive a tax break in 2022.
Families can receive a total of $3,600 for each child under 6 and up to $3000 for each child ages 6 to 17. Half of the credit will be sent monthly with the remaining benefit able to be claimed on their 2021 tax returns. Families who filed 2019 or 2020 tax returns will automatically receive the monthly credits via direct deposit, paper checks or debit cards.
For low income families who have not filed tax returns, the IRS allows them to sign up via their website to provide necessary information to qualify for the tax credit payments. Experts say
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