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How The Expanded Child Tax Credit Payments Work

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The U.S. Capitol building is shown after sunset Thursday, March 4, 2021, in Washington. The Biden administration is beginning to distribute expanded child tax credit payments, giving parents on average $423 in July 2021, with payments continuing through the end of the year. (AP Photo/Alex Brandon)

The Biden administration is beginning to distribute expanded child tax credit payments, giving parents on average $423 this month, with payments continuing through the end of the year. Advocates say the monthly payments can help smooth out an impoverished family’s income, making it easier for them to budget and less dependent on high-interest lenders. The payments begin to phase out at incomes of $75,000 for individuals, $112,500 for heads of household and $150,000 for married couples. But higher-income families with incomes of $200,000 for individuals and $400,000 for married couples can still receive the previous $2,000 credit.

 

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