The IRS (Internal Revenue Service) will start sending monthly payments – part of the new $3,000 child tax credit – on a monthly basis, beginning this July (2021).

The expanded Child Tax Credit is one part of President Biden’s $1.9 trillion American Rescue Plan, which allows families to receive a $3,000 annual benefit for each child between the ages of six and 17 – and $3,600 for each child under age six for the 2021 tax year.

The payments will be made in $300 or $320 installments starting in July and running through December.

The remainder can be claimed as a credit on 2021 taxes when they are filed in 2022.

(AL.COM/www.al.com)