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Credit Justin Hicks / IPB News
Some Hoosiers received the first monthly installment of a child tax credit Thursday. It’s a one-year-only program from the American Rescue Plan designed to help families emerge from the pandemic.
Families can get an automatic tax credit of at least $3,000 per child. The exact amount depends on their age.
Each child under 6 years old merits a $3,600 credit, while families with children aged 6 to 17 will see $3,000 in credits.
But it’s not all at once: half is paid monthly from now until December, while the other half comes at tax time.
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