Third child tax credit payment set to go out to families

Third child tax credit payment set to go out to families

(CNN)Millions of families will soon receive their third child tax credit payments, which are set to be distributed on September 15. Most parents will automatically receive the enhanced credits of up to $300 for each child up to age 6 and $250 for each one age 6 through 17. The Internal Revenue Service is scheduled to send three more monthly payments in 2021. The infusions may serve as even more of a lifeline to struggling families now that the pandemic unemployment benefits and eviction moratorium have ended. In August, the agency distributed more than $15 billion to the parents of roughly 61 million children. But low-income households may not get the payments if they did not file 2020 or 2019 tax returns nor used the IRS tool to claim their …
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