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Child tax credit: here’s when the next payment arrives

(Photo: Getty Images)

CLEVELAND (WJW) – The next child tax credit advance payments are expected to be made later this week.

As of September 15, the US Treasury Department said it has made more than 106 million payments so far in the three rounds of monthly payments, for a total of $ 46 billion.

Child tax credit advance payments have been made to families of more than 60 million eligible children, and the department said the results are already visible: Food insecurity among families with children has fallen by 24 % after the distribution of the first payments in July, according to the United States Census Bureau.

Half of the total loan amount is paid in advance monthly installments on the 15th of each month, which begin in July and end in December. Families will claim the other half of the credit when they file their 2021 tax return.

The next payment is scheduled for this Friday, October 15. Then the November 15 and December 15 payments will follow.

If you prefer to opt out of early payments, you can do so here before these deadlines:

  • Payment date: November 15 / Unsubscribe deadline: November 1
  • Payment date: December 15 / Unsubscription deadline: November 29

The Treasury, which handed over $ 450 billion directly to families as part of the US bailout, said it was helping people put food on the table, take care of their children and stay at home with payments.