Families who qualify will receive a payment of up to $300 per month for each child under 6 and up to $250 per month for children between the ages of 6 and 17. Instead of the IRS putting the tax credit into tax obligations at the end of the tax season, families will now get monthly payments. -Parents have to make a combined income of less than $150,000. The decisions will be made on families 2019 and 2020 tax returns. Most people will get the payments via direct deposit. This means a family will get $3,600 annually for kids under 6 and $3,000 for kids ages 6 to 17. It would cost America about 100 million dollars a year.