(ConservativeInsider.org) – Since the coronavirus pandemic began, US leaders sought out different ways to boost the economy. One idea put into practice by former President Donald Trump was stimulus checks sent directly to citizens. In March of 2021, though, President Joe Biden added to the cash flow received by families when he announced increased tax breaks for families that are depositing into bank accounts this month.
On Monday, November 15, the fifth of six Child Tax Credit checks will go into the hands of middle and low-income US families. Previous to Biden’s March bill, most families making under $150,000 got a tax break of $2,000 per child, but the new legislation bumped that up to $3000 for children between the ages of 6 and 17 and $3,600 for children 5 and under.
The Internal Revenue Service (IRS) began sending out $250 or $300 installments of these tax credits in July depending on the children’s ages to get this money into people’s hands faster. The final check will go out in December.
The US Sun shared how to track the check on Twitter:
New $300 stimulus checks will hit your bank account next week – see when you’ll get yours
— The US Sun (@TheSunUS) November 12, 2021
Some Americans expect and even depend on a large tax refund check when they file their taxes in the new year. However, every family should take note of whether or not they’re receiving these checks now, as it will directly affect the size of their refund next year. For those needing to track them, head to the IRS Child Tax Credit Portal to find out more information.
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