In the month of July, all the eligible parents received their first round of the child tax credit stimulus check. It is given from the expanded credit provided by the federal government. The recent bill got approved as the stimulus bill. The name of the legislation is the American Rescue Act introduced by Joe Bien, the President of the country. Accordingly, it provides a total of either 3000 USD or 3,600 USD for the parents to look after the children. The amount depends on the age of the children.
Stimulus Check On A Weekday
The said child tax credit stimulus checks are given as complimentary money to the financial aid payments, the amount of which is 1,400 USD. The main aim behind providing the money is to support all eligible parents in taking care of their children in times of the ongoing coronavirus pandemic.
The stimulus check child tax credit gets deposited directly into the bank accounts of the beneficiaries every month. The money will be provided until the last month of this year, that is 2021. A portion of the money will be provided in the form of direct deposits every day. When it comes to the rest of the amount, they can be claimed by the parents in the year 2022 through tax returns.
Though the first batch of the stimulus check child tax credits was distributed on the 15th of the previous month, the money will be distributed earlier this month. It has been stated that money will be distributed precisely on the 13th of August. The reason for the earlier availability is because the money cannot be provided on Sundays, the day on which the 15th falls. And so the department of the IRS will provide the money on a weekday instead.
