(CBS Detroit) — The third round of Child Tax Credit payments from the Internal Revenue Service (IRS) goes out this week. But parents are asking when exactly the money will arrive. Last month’s check came on August 13 for those with direct deposit, or soon after for those dependent on the U.S. postal system. This month’s payment will be sent on September 15. Advance payments will continue next month and through the end of the year, thanks to the American Rescue Plan passed back in March. Democratic lawmakers are looking to extend the advance credit through 2025.
Families can use the Child Tax Credit money however they like. That means the extra $250 or $300 per child can be put toward essentials like food or rent. It may also be spent on school supplies or a new computer, should COVID push students back into remote learning. Other households may apply the money toward piano lessons, daycare or even diapers. Regardless, the money comes at a time when much of the other pandemic aid — most recently the extra unemployment insurance — has ended. Knowing that additional income is coming allows for a measure of security and flexibility in a world that’s full of surprises.
How Much Should Your Check Be?
The IRS is paying $3,600 total per child to parents of children up to five years of age. That drops to $3,000 for each child ages six through 17. Half of the total is being paid as six monthly…