WASHINGTON, D.C. (WWLP)– The Federal Trade Commission (FTC) is warning consumers about scammers looking to grab their child tax credit.
Eligible families will be receiving monthly payments from the government from July 15 through December 2021, as part of the American Rescue Plan Act. The Internal Revenue Service (IRS) will send these monthly payments directly to people through direct deposit, paper checks, or debit cards. Unlike economic impact payments, these payments are an advance on families’ child tax credit. People who are eligible will get up to half of their child tax credit in these monthly payments and the other half when they file their 2021 taxes.
The FTC wants people to be prepared for calls, emails, texts, and even social media, offering to help you apply for benefits, ways to get the money quicker or get you more money. According to the IRS:
- Only the IRS will be sending these payments. Anyone trying to “help” you get your child tax credit is really after your money.
- The government will NEVER call, text, email, or DM you out of the blue, asking for money or information. Keep your money — and your Social Security, bank account, debit and credit card numbers — to yourself.
- No government agency will ever demand that you pay by gift card, wire transfer through companies like Money Gram or Western Union, or cryptocurrency. That’s a scam, every time.