Consumer Financial Protection Bureau (CFPB): Financial Relief Available to Millions of American Families With Children

June 26, 2021

To support families and help offset the cost of raising children during the coronavirus pandemic recovery effort, Congress expanded the Child Tax Credit through the American Rescue Plan Act to provide additional financial relief to millions of American families.

The Advance Child Tax Credit expansion provides more money to more children through automatic monthly payments distributed by the IRS beginning in July 2021.

While most Americans will automatically receive their Advance Child Tax Credit payments each month, you may need to provide information to the IRS in order to receive your money.

Learn whether you need to take additional steps to receive your credit, and more about this new benefit, including the top 5 things you may not know about the Advance Child Tax Credit and how to avoid Advance Child Tax Credit scams.