General World News

When families can expect the Biden cash benefits to hit their bank accounts this year

Joe Biden

Summary List Placement

The Internal Revenue Service (IRS) has started notifying 36 million American families that they could be eligible to receive a monthly child tax credit starting next month.

President Joe Biden’s $1.9 trillion stimulus law in March included up to $300 in monthly child tax credits for each child under the age of 6, and $250 monthly credits for each qualifying child between the ages of 6 and 17.

According to an IRS press release on Monday, the agency will begin distributing those payments on July 15, with additional deposits spread through the year: