IRS Child Tax Credits Hit Accounts Across the Country

by CrownHeights.info

Check your bank accounts, it’s here.

The IRS today began dispensing billions in child tax credits to citizens’ bank accounts across the country.

The disbursements are part of the Biden Administration’s American Rescue Plan, which includes an increase in child tax credit from $2,000 to $3,000 per child. with parents of children under age 6 eligible for an even larger $3,600 total credit.

Up to half of that credit will be distributed over the final six months of this year, according to the IRS, meaning a typical parent of one kid over 6 can expect a $250 payment this month as the first of six installments of the advanced payment of $1,500. The rest of the credit would potentially be on the upcoming year’s tax return.