Sokaogon Chippewa Community News
Child Tax Credit
The Internal Revenue Service upgraded a key online tool to enable families to quickly and easily update their bank account information so they can receive their monthly Child Tax Credit payment by direct deposit.
The bank account update feature was added to the Child Tax Credit Update Portal.
Eligible families will receive payments up to $300 per month for each child under age 6, and up to $250 per month for each child ages 6 to 17 through December 2021.
Any updates made by August 2nd will apply to the August 13th payment, and all subsequent monthly payments for the rest of 2021.
Families received their July 15th payment by direct deposit in the bank account currently on file with the IRS. Those who are not enrolled for direct deposit received a check.
The IRS encourages people without current bank account information to use the tool to update their information so they can get the payments sooner.
People who need to update their bank account information should go directly to the IRS.gov site and not click on links received by email, text or phone.