Parents from all over the country cheered when they received their first child tax credit payment. Getting up to $300-per-child each month (depending on the age of the child) can be a lifesaver for families who are struggling financially because of the pandemic. But Americans had to wait for months after the program was announced before receiving any money. Now that the first round of payments has been delivered, the waiting begins again for the next round of direct deposits, checks, and debit cards.
The IRS sent payments to approximately 35 million families on July 15. Additional payments will follow each month through the end of the year according to the schedule below. As it stands right now, the payments will not carry over into 2022 (although President Biden wants to extend them beyond this year), so plan accordingly.
Schedule of 2021 Monthly Child Tax Credit Payments
|1st Payment||July 15, 2021|
|2nd Payment||August 13, 2021|
|3rd Payment||September 15, 2021|
|4th Payment||October 15, 2021|
|5th Payment||November 15, 2021|
|6th Payment||December 15, 2021|