First child tax credit payments being sent out this week

CNN– The first payments of President Joe Biden’s child tax credits are due to start rolling out this week. Households will receive up to $3,600 for each child up to six-years-old and $3,000 for every child ages 6-17.

Half of that credit can be claimed when filing income taxes for the year but the other half will be paid in monthly installments now through the end of 2021. About 39 million households and 88% of the nation’s kids are estimated to be covered by the enhanced credits.