On July 15, 2021, the IRS sent over $15 billion in Advance Child Tax Credit (ACTC) payments. The first set of advanced payments will benefit approximately 35 million families with an estimated 60 million children. Payments will be made each month during the last half of 2021. The payment amount is $300 per month for children under age 6 and $250 per month for children aged 6 through 17.
Treasury Secretary Janet Yellen stated, "For the first time in our nation's history, American working families are receiving monthly tax relief payments to help pay for essentials like doctor's visits, school...More