Child tax credit payments start this week

39 million households estimated to be covered by enhanced credits

Child tax credit payments coming
Child tax credit payments coming

The first payments in the Biden administration’s enhanced child tax credits are due to start rolling out this week.

The program works like this. Heads of household will receive up to $3,600 for each child up to 6 years of age and $3,000 for each child ages 6 to 17 years old.

Half of that credit can be claimed when filing income taxes for the year, but the other half will be paid in monthly installments from now through the end of the year.

Those payments can be up to $300 dollars per month for kids under 6 and $250 a month for kids up to 17.

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The amount of the credit goes down for people earning over $112,000 and households making more than $150,000.

About 39 million households and 88% of the nation’s kids are estimated to be covered by the enhanced credits.

The Internal Revenue Service has partnered with non-profits to reach households that may not file taxes.