The first child tax credit payments go out to 65 million kids this week. How to navigate the process. investinyou (In partnership with acorns.)
of each month, unless the 15falls on a weekend or holiday, at which point the money will be sent on the closest business day. After the benefit first goes out July 15, families can expect subsequent payments on Aug.13, Sept. 15, Oct.15, Nov. 15 and Dec. 15, according to the IRS.
Some families may choose this route because they don't need the monthly payments immediately or prefer to get a lump sum as a tax refund, said Elaine Maag, a principal research associate at the Urban-Brookings Tax Policy Center.
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