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Parents will start getting $300 per month for child tax credit

Beginning in a couple weeks the first child tax credit payments will go out to families.

It’s part of the American Rescue Plan, which the Biden administration has said will dramatically reduce child poverty.

The payments are ordinarily distributed as tax refunds, but in this case, they will be passed out monthly to parents and families.

The payments will be automatic based on tax information from the last two years.

Those who have children under 6 will receive $3,600 overall, as part of the push- while those who have children between 6-17 will receive $3,000. It boils down to a payment from the federal government of $300 per month or $250 per month respectively.

The IRS has launched a tool for people to check the status of their payments.

Categories: NewsPolitics