Starting July 15th, just two days from now, the US Treasury will start sending what it refers to as “advance Child Tax Credit payments” to eligible families on the 15th of every month. The maximum amount for each child under age 6 is $300 per month and for each child 6 to 18 is $250 per month. Families are also still eligible a tax credit of $1800 for children under age 6 and $1500 for children 6 to 18 on their 2021 tax return.
To receive the full credit the taxpayer must have adjusted gross income on their most recent tax return of under $150,000 if filing jointly, under $112,500 if filing as head of household, and under $75,000 if filing as single.
The monthly payments will be automatically deposited or sent on the 15th of each month. For individuals who did not file a tax return last year they may sign up if they qualify at: Child Tax Credit Non-filer Sign-up Tool | Internal Revenue Service (irs.gov). These funds do not as of yet appear to be protected from garnishment in Arizona.
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