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IRS Says Monthly Stimulus Checks For People With Families Will Begin In July

According to the IRS, working families can look forward to receiving monthly stimulus checks as early as July.

Within President Biden’s $1.9 trillion COVID-19 relief package, families can expect up to $3,600 per child in 2021, according to Yahoo! Finance.

The check is is aimed to help parents take care of basic bills and/or pay down debt.  According to the publication, every household with children that qualified for the recent $1,400 stimulus payment can expect to receive the money via the expanded child credit.

Reportedly, families led by a couple earning less than $150,000 or an individual making under $75,000 is set to receive a $250 monthly payment for each of child ages 6 to 17, from July through December 2021. For children under 6, you’ll receive $300. In total, depending on your children’s age, you can receive up to $3,600 within this year. For families of newborn children, you can expect to receive $550 every month from July to December. As for those currently expected, the relief bill proposes the IRS build a portal for families to update their information, which will hopefully be up and running by July.

Cha-Ching!

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