Monthly payments worth $250 or $300 per child are set to begin going out on July 15. However, some families will need to use a tool on the Internal Revenue Service's website to ensure they receive the money.
Most families who are eligible for the expanded Child Tax Credit will automatically receive direct payments beginning in July, but some will need to use a tool on the Internal Revenue Service's website to ensure they receive the money.
The new law also changed how people receive the credit, going from a lump sum when they file their taxes to monthly payments that will run from July through December. Child Tax Credit advance payments are set to start going out on July 15 and some people may need to register using an IRS tool to receive money. A man and woman wear protective masks while pushing children in a stroller as the city continues Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus on July 27 in New York City.
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IRS Opens Child Tax Credit Payment Registration Portal For Non-Filers—Here’s What You Need To KnowI'm a breaking news reporter for Forbes focusing on economic policy and capital markets. I completed my master’s degree in business and economic reporting at New York University. Before becoming a journalist, I worked as a paralegal specializing in corporate compliance.
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