IRS, Treasury announce families of 88 percent of children in the U.S. to automatically receive

IRS, Treasury announce families of 88 percent of children in the U.S. to automatically receive monthly payment of refundable Child Tax Credit https://www.irs.gov/newsroom/irs-trea https://accountinginstruction.info WASHINGTON — The Internal Revenue Service and the U.S. Department of the Treasury announced today that the first monthly payment of the expanded and newly-advanceable Child Tax Credit (CTC) from the American Rescue Plan will be made on July 15. Roughly 39 million households — covering 88% of children in the United States — are slated to begin receiving monthly payments without any further action required.