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American families with children 17 years old and younger should see payments up to $300 per kid starting in July and recurring through December.
The IRS laid the payment schedule out for some 36 million families who would be impacted by the advanced Child Tax Credit payments of $250 or $300 per child, depending on their age. If you want to write down when the payments will be made, they are scheduled for July 15th, August 13th, September 15th, October 15th, November 15th, December 15th.
The IRS announced eligible families should be getting letters notifying them of the upcoming payments. The families were eligible based on information included in either their 2019 or 2020 federal income tax. The payments will be made either through direct deposit or check. If your family qualifies, you will receive a payment of up to $300 per month for each child under 6 and up to $250 per month for children between the ages of 6 and 17.