Here’s when monthly $300 stimulus payments will be sent out to parents

THE US Government is set to start issuing the first set of $300 monthly payments as part of the advance child credit tax.

Expected to start in July, Americans will be able to claim up to $16,000 in expenses in similarity to stimulus checks.

So far, the IRS hasn’t filed for an exact date to make the payments or how the payments will be allocated.

This includes whether the payments will be released in batches for different groups – like the ones seen in stimulus checks – or whether they will be paid all at once.

However, what is known is the amount of money that any given family can expect when the claim period begins.

According to CNET’s child tax credit calculator, any family with a child aged 6 to 17 can claim up to $250 for monthly payments in the first part of the year.

This increases to $300 a month for any family with a child aged 5 and younger.

Furthermore, families in these categories would be entitled to $1,500 and $1,800 respectively from April 2022, when the second half of the payment will be made.

These payments will be automatic for those who file their 2020 returns by the new deadline on May 17.

This will allow the IRS to know how many dependents are in the household who count towards the child tax credit benefits.

If you do not hit the deadline, then your monthly payments may be different than what you qualify for, based on your situation this year.

So far, it’s estimated that these monthly payments could be sent and received in a number of ways, and may depend on how you received your stimulus check money.

For example, if you got all three stimulus checks by direct deposit, it's quite possible your child tax credit could arrive that way too.

If you receive social security benefits it's possible you might get your payment on a Direct Express card. 

Paper checks and debit cards are other delivery methods used for stimulus checks.

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