Starting in July monthly payments from the last round of COVID relief will start flowing to parents with children 17-and-younger.
The American Rescue Plan, which was passed in March includes payments that begin on July 15.
It’s an advance on the child tax credit. Payments of $250 or $300 per month will go out to individuals with children 17 or younger, who make less than $75,000 if filing taxes as an individual, or $150,000 as a married couple.
“The American Rescue Plan is delivering critical tax relief to middle class and hard-pressed working families with children,” President Joe Biden said in a statement Monday.
The message from officials has been consistent: Get your taxes filed.
The IRS will be making payments based on 2019 returns if there is no 2020 return available for them to work from. The tax day deadline was extended to Monday due to the pandemic.Want the latest headlines in your inbox each morning? Click here to sign up for our Morning Edition and Sunday Insight newsletters. They are dedicated to keeping you in the know. You can also download the FingerLakes1.com App for Android (All Android Devices) or iOS (iPhone, iPad)