Financial analyst discusses child tax credit payments

Lifestyle

FOX40’s financial analyst Kimberly Foss joined Mae to discuss the child tax credit and who qualifies. 

Taxpayers who qualify for the credit will receive a letter in the mail from the IRS informing them of their eligibility, based on their most recent tax return.

It’s estimated 36 million families qualify for the benefit, which is worth up to $300 per month for each qualifying dependent child under age 6 and up to $250 for each child between the ages of 6 and 17.

The first payment is expected July 15, with additional payments expected monthly through December. 

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