Stimulus Check was scheduled to be delivered on the 15th of each month. However, the payment for the month of August is is expected to be delivered early. The IRS stated that these payments will be transferred directly to the bank accounts. These Stimulus Checks were approved by the administration of Joe Biden. This program aimed to assist families in dire times. The Child Tax Credit money helped families to manage the expenses efficiently.
Stimulus Check Comes Early In August
The Child Tax Credit payments are expected to arrive sooner than scheduled. The payments were designed to continue for six weeks. This will be only the second week of payment. All this money is scheduled to reach the beneficiaries on the 15th of each month.
15th August, however, falls on a Sunday. This, IRS decided to predate the date of payment. The money will be rolled out on Friday, 13th August 2021. According to reports, the payments would be deposited directly to the bank accounts. In other alternatives, the funds would be mailed as a paper check.
These payments will be received by a group of eligible citizens. The families, who wish to receive these, must have children. The children should fall into either of the two age groups. Children under 6years of age and kids within the 6-17 year age range are qualified. The children under 6years are entitled to a payment of $300. The ones in the 6-17 range will receive $250.
Families with a single individual need to earn under $75000 for qualifying. A couple must be earning under $150000 annually to receive the aids. One can also opt to receive the sum of money as a lump sum amount. This will be adjusted with the filing of taxes.
Stimulus Check for child credit will be rolled out till 15th December. Citizens can check their eligibility by logging into the IRS website.