Countless Families Are Receiving Stimulus Money in Their Bank Accounts
When it comes to receiving more stimulus money in checking accounts, it's important for all American families to be informed on how much money they will be receiving from the Internal Revenue Service.
Both of my kids are now over the age of 18 and we will know longer be receiving any more stimulus checks from the IRS, well at least that we know of.
According to al.com:
The Internal Revenue Service and Treasury Departments began sending child tax credit payments in the form of direct deposits on July 15. The first batch of advance monthly payments-worth about $15 billion-have been sent to about 35 million families with 86% delivered via direct deposit.
And of course if you don't receive any stimulus money through direct deposit, then you can expect a paper check through the mail system in the upcoming days.
When you think of the cost of living these days which includes higher prices for groceries and now higher gasoline prices, this stimulus money can certainly help out many U.S. citizens.
I know when my family and I were receiving stimulus money, we would all sit down at the dinner table and discuss how we were going to use this extra money. Most of the time we spent the extra money on groceries and necessities.
According to al.com, they break it down with the following:
The tax credit provides up to $300 per month for each child under age 6 and up to $250 per month for each child ages 6-17. Six payments are planned-starting in July and running through December. The remaining six months of payments, either $1,800 or $1,500, can be claimed when filing 2021 taxes in 2022.
Generally speaking, most of the same child tax credits will remain the same and if you follow all tax credit guidelines, everything should come directly to you through direct deposit or by paper check in the mail.