The U.S. government said last week that it is starting to deposit monthly child tax credit payments into the accounts of over 35 million households nationwide.
President Biden has expanded the child tax credit for one year to assist families as the country recovers from the coronavirus pandemic.
Starting on July 15, monthly payments are being issued of up to $250 for each child 6 to 17 years old and $300 for each child under the age of 6.
Most families will begin receiving the monthly payments without doing a single thing. However, families who did not file taxes for 2019 or 2020 or did not previously claim economic impact payments (aka stimulus payments) have to sign up to receive these monthly child tax credit payments through a new online IRS tool at childtaxcredit.gov
So we want to hear from you: Are the new child tax credits a good idea for America?
Let us know below!