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Please verify your request Advertisement The Internal Revenue Service on Thursday sent out the first monthly Child Tax Credit payments, delivering roughly $15 billion to about 35 million families representing about 60 million children, with the vast majority arriving via direct deposit. The fully refundable payments provide up to $300 a month for each child under age 6 and up to $250 a month for each child ages 6 through 17. Upper-income families aren’t eligible, with the credit phasing down for individuals earning more than $75,000 and couples making more than $150,000. Provided as part of the Covid rescue package Democrats passed in March, the payments are set to continue through the end of the year, though Democrats are looking to extend them as part of their budget blueprint. The six months’ worth of payments represent only half of the full credit, with the second half to be claimed when families file taxes next year.

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