Spot and Avoid Scams Related to American Rescue Plan Payments : Savings Corner Presented by Coosa Valley Credit Union

As part of the American Rescue Plan Act, certain families have begun receiving monthly payments beginning last month and going through December 2021. These specific families will receive these monthly payments directly from the Internal Revenue Service (IRS), whether that be through direct deposit, paper checks, or debit cards.

What Are These Payments?
These payments differ from the Economic Impact Payments most individuals received amidst the pandemic. These new payments are a direct result of important changes to the Child Tax Credit. The IRS will pay half the total credit amount in advance monthly payments, and families will claim the other half when they file their 2021 income tax return.
To learn more about these changes and to see if you’re eligible, click here: https://www.irs.gov/credits-deductions/advance-child-tax-credit-payments-in-2021

When Will I Get My Payments?
If you qualify for the payments, you’ll get them on,…