{"id":125081,"date":"2021-05-14T16:28:13","date_gmt":"2021-05-14T16:28:13","guid":{"rendered":"https:\/\/precoinnews.com\/?p=125081"},"modified":"2021-05-14T16:28:13","modified_gmt":"2021-05-14T16:28:13","slug":"heres-when-monthly-300-stimulus-payments-will-be-sent-out-to-parents","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/world-news\/heres-when-monthly-300-stimulus-payments-will-be-sent-out-to-parents\/","title":{"rendered":"Here\u2019s when monthly $300 stimulus payments will be sent out to parents"},"content":{"rendered":"

THE US Government is set to start issuing the first set of $300 monthly payments as part of the advance child credit tax.<\/strong><\/p>\n

Expected to start in July, Americans will be able to claim up to $<\/strong>16,000 in expenses in similarity to stimulus checks.<\/p>\n

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So far, the IRS hasn\u2019t filed for an exact date to make the payments or how the payments will be allocated.<\/p>\n

This includes whether the payments will be released in batches for different groups – like the ones seen in stimulus checks \u2013 or whether they will be paid all at once.<\/p>\n

However, what is known is the amount of money that any given family can expect when the claim period begins.<\/p>\n

According to CNET\u2019s child tax credit calculator, any family with a child aged 6 to 17 can claim up to $<\/strong>250 for monthly payments in the first part of the year.<\/p>\n

This increases to $<\/strong>300 a month for any family with a child aged 5 and younger.<\/p>\n

Furthermore, families in these categories would be entitled to $<\/strong>1,500 and $<\/strong>1,800 respectively from April 2022, when the second half of the payment will be made.<\/p>\n

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These payments will be automatic for those who file their 2020 returns by the new deadline on May 17.<\/p>\n

This will allow the IRS to know how many dependents are in the household who count towards the child tax credit benefits.<\/p>\n

If you do not hit the deadline, then your monthly payments may be different than what you qualify for, based on your situation this year.<\/p>\n

So far, it\u2019s estimated that these monthly payments could be sent and received in a number of ways, and may depend on how you received your stimulus check money. <\/p>\n

For example, if you got all three stimulus checks\u00a0by direct deposit, it's quite possible your child tax credit could arrive that way too.<\/p>\n

If you receive social security benefits\u00a0it's possible you might get your payment on a Direct Express card.\u00a0<\/p>\n

Paper checks and debit cards\u00a0are other delivery methods used for stimulus checks.<\/p>\n