When will the $3,600 child tax credit payments arrive and how frequently? 1 big thing to know
There are important things to know about the expanded child tax credit for 2021, including the IRS plan for sending out the checks and why you'll still only get half the money before this time next year.
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Details on the child tax credit payments still aren't set, but they're expected to start in July. Here's what we know right now.
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Families over the next 12 months could see a big boost in their family budget, with the third Stimulus checks now going out for up to $1,400 per qualified adult and dependent and an expansion of child tax credit (CTC) that could bring up to $3,600 per child. The rules about the temporary CTC are complicated and confusing, however, and some have yet to set. Here's the biggest one to know: Payments will be split between 2021 and 2022.