WHOA! New MONTHLY Stimulus From IRS? SAY WHAT!
***UPDATE*** The checks will start going out on July 15th, and the IRS will open a portal online on July 1st to give people a chance to opt out or update information. CONFIRMED! There will be a new monthly Stimulus starting in July. On Tuesday it was confirmed by the IRS that the Child Tax Credit checks will start in July and go through December. You will get half of the child tax credit split up between 6 months, then the other half when you file taxes next year. BUT! There are two different age brackets and how much you will receive for each child depending on their age.
The new Child Tax credits could bring you $500 to $3,600 per child depending on age and custody. Under the new bill for the latest Stimulus that the President passed, you can get $3,600 per child aged 5 and under, $3000 for kids 6-17, and $500 for 18 year olds. The age cutoff is at the end of the year. Click the link below to read more about this and calculate how much you will receive.