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 </figure><a href="https://greatbendpost.com/posts/720b5a74-d4d5-4931-86dd-91cfd95459ee">RELATED: Facing a surprise tax bill? Be sure to still file by May 17</a><a href="https://jcpost.com/posts/e0c16571-b94f-49a6-a03f-dce7d9213149">RELATED:&nbsp;IRS begins correcting tax returns for unemployment payments</a>IRSWASHINGTON — The Internal Revenue Service and the U.S. Department of 
the Treasury announced today that the first monthly payment of the 
expanded and newly-advanceable Child Tax Credit (CTC) from the American 
Rescue Plan will be made on July 15. Roughly 39 million households — 
covering 88% of children in the United States — are slated to begin 
receiving monthly payments without any further action required.IRS and Treasury also announced the increased CTC payments will be 
made on the 15th of each month unless the 15th falls on a weekend or 
holiday. Families who receive the credit by direct deposit can plan 
their budgets around receipt of the benefit. 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.The American Rescue Plan increased the maximum Child Tax Credit in 
2021 to $3,600 for children under the age of 6 and to $3,000 per child 
for children between ages 6 and 17. The American Rescue Plan is 
projected to lift more than five million children out of poverty this 
year, cutting child poverty by more than half.Households covering more than 65 million children will receive the 
monthly CTC payments through direct deposit, paper check, or debit 
cards, and IRS and Treasury are committed to maximizing the use of 
direct deposit to ensure fast and secure delivery. While most taxpayers 
will not be required to take any action to receive their payments, 
Treasury and the IRS will continue outreach efforts with partner 
organizations over the coming months to make more families aware of 
their eligibility.Today's announcement represents the latest collaboration between the 
IRS and Bureau of the Fiscal Service—and between Treasury and the White 
House American Rescue Plan Implementation Team—to ensure help quickly 
reaches Americans in need as they recover from the COVID-19 pandemic. 
Since March 12, the IRS has also distributed approximately 165 million 
Economic Impact Payments with a value of approximately $388 billion as a
 part of the American Rescue Plan.Additional information for taxpayers on how they can access the Child Tax Credit will be available soon at <a href="https://www.irs.gov/credits-deductions/advance-child-tax-credit-payments-in-2021">IRS.gov/childtaxcredit2021</a>.

IRS begins sending monthly Child Tax Credit to bank accounts in July