New Expanded Child Tax Credit Payment Details: Dates, Timeline, Form, & Modifications

I wanted to share a few quick noteworthy updates on payment details for the new expanded Child Tax Credit in 2021 that was part of the American Rescue Plan legislation that was passed by Congress and signed by President Biden in March, which adds significant additional funding to the standard Child Tax Credit that many Americans are familiar with. Date of Payment Details: the IRS and Department of Treasury announced that the expanded credit will begin being paid out as advanced monthly payments starting July 15 to eligible households. Payments will be made on the 15th of each month (unless...

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