Child Tax Credits have been rolled out by the IRS this Friday. These payments add up to the Stimulus money. The plan was designed by the federal government. These payments provided a sense of relief to the common masses. People used up the money in important transactions. Most of them paid their debts off. The money received has also resulted in less amount of food insufficiency for families. The Child Tax Credit payments are sent out as direct payments. The amount will be sent straight to the bank accounts. People who opted for paper checks will have a day or two delays.
Child Tax Credit Money Received Early
The money for the child expenses reached the accounts of the Americans earlier. This was the second installment of the promised check. The money is scheduled to be delivered to the accounts on the 15th of each month. However, 15th August is a Sunday. This, the credits have reached people two days prior. A total of six checks will be shelled out to the eligible people.
However, a significant amount of people reported not receiving the checks. They claimed to have received the previous payment directly. The baffled citizens checked the IRS website. It was informed that due to some technical glitches some of the checks were being mailed physically. The mailed checks will take significantly longer to reach the citizens.
Child Tax Credit payments have provided a lot of respite to struggling households. The IRS asked the people not to worry. They promised to resolve the issue soon. IRS stated that no additional action was required. The subsequent payments shall be funded directly to the bank accounts. Citizens are entitled to receive $300/child for kids under 6years. A sum of $250 has been entitled to children within 6-17 years of age.