Child Credit Payments Thursday May Surprise Many Parents

Of 436 surveyed parents likely eligible because they have kids under 18, only half were expecting to receive any money and only 71% knew of its existence, Ally said. Of the parents who thought they wouldn’t get the credit, not knowing how to be paid or otherwise access the funds was the most common reason for not expecting the payments. Not only that, but at least 47% of parents were off the mark when estimating how much their monthly payments would be. The findings suggest the IRS’s publicity campaign about the first-of-its-kind tax credit hasn’t been entirely successful. Overhauled by the American Rescue Plan pandemic relief bill in March, a bigger credit is available to more people this year. The monthly payments, which will last through December, are an advance on half the full amount (up to $3,600 per child,) and the other half will come at tax time, as usual. for 2021 Under the American Rescue Plan Act of 2021.” for 2021 Under the American Rescue Plan Act of 2021.” for 2021 Under the American Rescue Plan Act of 2021.” for 2021 Under the American Rescue Plan Act of 2021.” for 2021 Under the American Rescue Plan Act of 2021.” for 2021 Under the American Rescue Plan Act of 2021.” for 2021 Under the American Rescue Plan Act of 2021.” for 2021 Under the American Rescue Plan Act of 2021.” for 2021 Under the American Rescue Plan Act of 2021.” for 2021 Under the American Rescue Plan Act of 2021.” for 2021 Under the American Rescue Plan Act of 2021.” for 2021 Under the American Rescue Plan Act of 2021.” for 2021 Under the American Rescue Plan Act of 2021.” for 2021 Under the American Rescue Plan Act of 2021.” for 2021 Under the American Rescue Plan Act of 2021.” for 2021 Under the American Rescue Plan Act of 2021.” Accessed July 14, 2021.