Monthly Child Tax Credit Payments Begin
The first batch of advance monthly Child Tax Credit payments, worth roughly $15 billion, reached about 35 million families on July 15. About 86 percent of payments were sent by direct deposit.
Under the American Rescue Plan, each payment is up to $300 per month for each child under age 6 and up to $250 per month for each child ages 6 through 17. Normally, anyone who receives a payment this month will also receive a payment each month for the rest of 2021 unless they unenroll. Get additional details about the payments here