Moderate and low-income families with children will start receiving monthly Child Tax Credit payments of $250 to $300 each month beginning July 15th.
The IRS and Treasury Department will send the monthly payments through December 2021 via direct deposit. Families without direct deposit will receive a debit card or check.
Families eligible for the credit will receive $3,000 per qualifying child between ages 6-17 or $3,600 for each child younger than 6.
The credit phases out for individuals earning $75,000 or more of for married households who earn $150,000 or more.