Expanded Child Tax Payments Go Out Starting Thursday

The Internal Revenue Service is set to begin sending the expanded child tax credit payments on Thursday July 15 to tens of millions of families.

The extra funds will continue each month through the end of 2021 along with a tax break next year.

The payments were approved as part of the $1.9 trillion stimulus package that was passed in March.

The full enhanced credit will be offered for heads of households earning $112,500 and joint filers making up to $150,000 a year, after which it begins to phase out.