The Internal Revenue Service unveiled a sign-up tool on its website Monday that will allow users to provide the necessary information about their households and, if they choose, about their bank accounts so the agency can directly deposit the funds.
Filers can also use the tool to register for the $1,400 stimulus check that Congress approved in March, as well as claim the prior two relief payments. A similar online form existed last year to allow low-income Americans to receive the first round of stimulus checks from the March 2020 rescue package.
The beefed-up child tax credit could cut child poverty by more than half, lifting more than 5 million kids out of poverty, according to experts. But that depends greatly on reaching the poorest families who don’t usually submit tax returns. More than 3 million children live in households that could be at risk of missing out, according to separate estimates from the Center on Budget and Policy Priorities and Propel, which runs an app used by a quarter of food stamp recipients.
Most households don’t have to do anything to get the child tax credit since the IRS already has their 2020 or 2019 returns. Roughly 39 million households, covering 88% of children, will start receiving the monthly payments on July 15.
Eligible parents will get $300 a month for each child under age 6 and $250 for each one
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