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Child Tax Credit Payments Begin July 15 | All About Arizona News

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Uncategorized

Child Tax Credit Payments Begin July 15

Families will begin getting monthly child tax credit payments on Thursday, benefiting a majority of the country’s children and thousands in Arizona.

Eligible families will receive a payment of up to $300 per month for each child under age 6 and up to $250 per month for each child age 6 and above, officials announced earlier this year.

The American Rescue Plan — a COVID-19 stimulus package passed by Congress and signed into law by President Joe Biden — increased the maximum child tax credit in 2021 to $3,600 for children under the age of 6 and $3,000 per child for kids between ages 6 and 17.

Households covering more than 65 million children will receive the monthly payments through direct deposit, paper check, or debit cards. The increased payments will be made on the 15th of each month unless the 15th falls on a weekend or holiday.

The administration says the American Rescue Plan is projected to lift more than five million kids out of poverty this year, cutting child poverty by more than half.

Children’s Action Alliance President and CEO David Lujan, referencing Arizona state data, said 112,000 children will be lifted above the poverty line with the credits. “Nearly 1.5 million Arizona children overall will stand to benefit just from the child tax credit provision alone.”

Click here for more information.



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