Roughly 39 million households in the United States will automatically get these payments, according to the IRS.
Author: Shirah Matsuzawa
Updated: 10:41 AM CDT May 25, 2021
BOISE, Idaho — Starting on July 15, some families with kids could see more federal money headed their way this summer, as part of the child tax credit in the American Rescue Plan COVID relief bill signed in March.
Roughly 39 million households in the United States will automatically get these payments through direct deposit, paper checks, or debit cards, according to the Internal Revenue Service.
“Before there was only $2,000 per child 16 and under now you're going to get $3,000 per child over five to the age of 17, so they're adding another year,” said Financial Advisor Thomas Brown with Petso Financial Consultants.