Home IRS Scams Scammers looking to capitalize on newly launched Child Tax Credit payments

Scammers looking to capitalize on newly launched Child Tax Credit payments

Our 11 News Call For Action team pens a weekly column for our news partner The Gazette. Previous columns can be found here.

COLORADO SPRINGS, Colo. (KKTV) – As Child Tax Credit payments start landing in bank accounts, the IRS is warning people to beware of scammers trying to cash in.

Last week, the IRS started sending out advance payments for the Child Tax Credit. Under the American Rescue Plan Act, which President Joe Biden signed into law in March, qualifying families will receive monthly payments through the end of 2021. According to the White House, more than 580,000 families in Colorado will get a check this month. That adds up to over $244 million to help 992,000 kids.

For this year only, the payments have increased. Before, the Child Tax Credit was capped at $2,000 per year for each qualifying child. For 2021, payments have been expanded to $3,600 per qualifying child under the age of 6, and up to $3,000 per qualifying child between the ages of 6…

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