AMERICAN RESCUE PLAN

IRS $3,000 child tax credit: when will the monthly payments begin?

The IRS has been tasked with setting up an online portal for the expanded Child Tax Credit and begin disbursing monthly payments by July.

As part of the temporarily-enhanced scheme, which sees qualifying parents get up to $3,600 per child over a 12-month period, recipients can opt to be paid the credit in a lump sum next year, or get half their total amount in monthly instalments between July and December.

Last week, a group of six lawmakers continued Democratic congressionals’ calls for the expanded Child Tax Credit to be made permanent, releasing a statement urging Congress to capitalize on a “historic opportunity” to reduce child poverty in the US.

The statement, signed by Senators Cory Booker (D-NJ), Sherrod Brown (D-OH) and Michael Bennet (D-CO), and Representatives Rosa DeLauro (D-CT), Suzan DelBene (D-WA),and Ritchie Torres (D-NY), read:…

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