{ "media_type": "text", "post_content": "Okay what’s up with the child tax credit? Moving it to 3,600/child under 5? And give people monthly payments of the credit? Is this really true? So if I have 2 kids under 5, I get a check from the IRS Monthly of $600?", "post_id": "60e9dd0123455800209cbd9a", "reply_count": 8, "vote_count": 2, "bowl_id": "599555b669a73a0010aab3ac", "bowl_name": "Tax Bowl" }

Okay what’s up with the child tax credit? Moving it to 3,600/child under 5? And give people monthly payments of the credit? Is this really true? So if I have 2 kids under 5, I get a check from the IRS Monthly of $600?

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Supposedly, and they were supposed to send some type of letter in June-July to opt in or out but I haven’t received anything yet except a letter saying they will be doing it. For me, everything has been really delayed with the IRS so I might opt out and just wait for one credit at EOY, I really don’t trust the monthly payments being on time.

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That’s what I’m thinking too

I got a letter last month saying the amount we would receive each month. It’s lower than $600 because we are over the $140k threshold so it’s phased out slowely until you’re over 400k (MFJ). It stated it would be direct deposit starting on July 15th and if we want to opt out we can go to a certain website that was listed on the letter.

Thank you! Super helpful. Think they will double the monthly amount since the year is half over I wonder?

50% of $3,600 for 5 and under paid out beginning in July (through December). So, $1,800/6 = $300 per child per month. Remaining 50% claimed on tax return next year.

No. Supposed to be the 15th of every month beginning in July (except August will be the 13th).

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