![]() ![]() (In August the payment will go out on August 13th since the 15th falls on a weekend.) If you haven’t provided the IRS with your bank account information on a recent tax return, a check is sent to you around the same time to the address the IRS has for you. People who receive payments by direct deposit get their payments on the 15th of every month. When will I start receiving my monthly CHILDCTC payments? People who don’t use direct deposit will receive their payment by mail around the same time. ![]() The 80% who get their refunds from the IRS through direct deposit will get these payments in their bank account on the 15th of every month until the end of 2021.For every child under 6 years old, families will get $300 each month.For every child 6-17 years old, families will get $250 each month.As of July 15 th, most families are automatically receiving monthly payments of $250 or $300 per child without having to take any action. This year, you’ll start getting the money in July. Normally, tax relief for the year only comes the following year when you file your taxes, no matter how much you need it now. The Child Tax Credit (CHILDCTC) in the American Rescue Plan provides the largest child tax credit ever and historic relief to the most working families ever. Transactions will contain the company name of “IRS TREAS 310” and text or entity description “CHILDCTC”. ![]() If you receive your payment electronically, it will show up in your bank account labeled CHILDCTC.
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