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$300/month for Kids Under 6, $250/month for Kids 6-17: IRS Begins Monthly Child Tax Credit Stimulus Payments

(photo: Philadelphia Inquirer)

Starting on July 15, 2024, the IRS will distribute monthly Child Tax Credit Stimulus Payments to eligible families.

July 15, 2024: The Start of CTC Stimulus Monthly Payments

The IRS will begin distributing the Child Tax Credit (CTC) Stimulus Monthly Payments for 2024 on July 15. This change means families will get help sooner than in past years, according to the report of JK Dears.

Eligibility: Helping Families

To get these monthly payments, families must have filed taxes in 2019, 2020, or 2021. The full credit is for married couples making up to $150,000, heads of households making up to $112,500 and other taxpayers making up to $75,000.

A Support for Parents

These payments offer $300 per month for kids under six and $250 per month for kids six to seventeen. They aim to ease the cost of raising children and help with household expenses.

READ ALSO: $6.149 Billion In Net Available Revenue: Arkansas Surplus Soars, Governor Proposes Phasing Out State Income Tax!

(photo: Money Instructor)

Getting Relief

Families need to make sure they’ve filed taxes or updated their information with the IRS. The IRS is sticking to a regular schedule for payments, showing its commitment to helping families.

A Way Forward

The CTC Stimulus Monthly Payments are part of a larger plan to support families throughout the year. By following clear rules and being inclusive, this plan aims to help everyone who needs it.

With the CTC Stimulus Monthly Payments starting soon, families can look forward to some much-needed financial support and a brighter future ahead.

READ ALSO: Tackling Maryland’s $35.9 Billion Student Loan Debt: Baltimore’s Student Debt Crisis Center Provides Relief And Education

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