IRS Sends Out $15 Billion in Child Tax Credit Payments to Families

The Internal Revenue Service (IRS) and Department of Treasury on Friday confirmed that some $15 billion in child tax credit payments were sent to families, according to the White House. The agency said that nearly 61 million children would be impacted by the move. Some recipients may face delays, although many are receiving the funds via direct deposit. “Today 61 million children across America are benefiting from the advance Child Tax Credit, helping families put food on the table and meet the needs of the next generation,” Deputy Treasury Secretary Wally Adeyemo said in a statement on Friday. “We want every eligible family to have access to the advance Child Tax Credit, which is why we will continue our outreach efforts to drive enrollment as our children return to school.” The child tax credit payments were authorized as a provision under the Biden administration-backed American Rescue Plan that passed in …

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