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The IRS has the following information about the Child Tax Credit:
“Important changes to the Child Tax Credit will help many families get advance payments of the Child Tax Credit starting in the summer of 2021.
Half the total credit amount will be paid in advance monthly payments and you will claim the other half when you file your 2021 income tax return. We’ll issue the first advance payment on July 15, 2021. For a full schedule of payments, see If I’m eligible to receive advance Child Tax Credit payments, when will I start receiving payments?
If you don’t have a bank account for direct deposit, see: Don’t have a bank account?”
