Millions of Americans Will Start Receiving Advanced Child Tax Credit Payments In JulyBy July 15, nearly 40 million low- to moderate-income households will benefit from direct, monthly government aid.
ByKenny Herzog•
In the two months since President Biden passed his administration's signatureAmerican Rescue Plan, a majority of American households have received thousands of dollars in direct stimulus assistance from the Department of the Treasury and IRS. Now, the dynamic bureaucratic-agency duo is at it again. It wasformally announcedthis morning byboth agencies— and buoyed by abrief memofrom Biden himself — that 88% of American households with children will begin receiving advance monthly payments toward 2021's total Child Tax Credit beginning July 15.
美国Rescule计划提高最大紧密相联的wable amount this year to $3,600 per child 6 and under, and $3,000 for every child between 6-17. The previous ceiling was $2,000 per child under 17, distributed as a lump sum at year's end. But beginning July 15, eligible households (see IRS forincome thresholdsand other criteria) will start receiving that money in monthly installments of up to $300 per child 6 and under and $250 for those 6 and older. Subsequent payments will be made via direct deposit or paper check every 15th of the month (barring federal holidays) through December, totalling as much as half of the ultimate credit.
President Biden's statement declared that this gradual, advanced meting out of aid "is delivering critical tax relief to middle class and hard-pressed working families with children." The Treasury added in its press releases that it and the IRS "will continue outreach efforts with partner organizations over the coming months to make more families aware of their eligibility."
In classic government-agency fashion, the IRS rounded out its announcement by reminding folks at the grassroots that they are at least partly responsible for ensuring the money goes where its needed most, urging "community groups, nonprofits, associations, education groups and anyone else with connections to people with children to share this critical information about the CTC."
认为这年代hared.
