When and how will the payments be disbursed?
American Rescue Plan Child Tax Credit
The IRS and Treasury have provided updates regarding the much anticipated CTC payments, including payment dates. We hope that you find the following resources beneficial:
According to the IRS, payments will be disbursed in monthly installments on these payment dates: July 15, August 13, September 15, October 15, November 15 and December 15. Payments will be issued either by direct deposit, as long as correct banking information has previously been provided to the IRS, or by check. Debit cards will not be issued for CTC payments in 2021.
When can I expect the payment to hit my account?
As Treasury communicated on June 10, from July through December 2021, CTC payments will be issued with a settlement date on the 15th of each month unless the 15th falls on a weekend or holiday. If the 15th falls on a weekend or holiday, the settlement date will be adjusted to the preceding business day.
Can I get my payments on a debit card?
Debit cards will not be issued for CTC payments in 2021.
How do I know if I'm eligible?
The IRS has created a special Advance Child Tax Credit Payments in 2021 page designed to provide the most up-to-date information about the credit and the advance payments. Please visit these IRS pages for further information:
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