From FoxBusiness.com…
Millions of parents across the U.S. can expect to receive some extra cash this week, when the IRS will start distributing payments from the newly expanded child tax credit.
The IRS said it expects to deliver monthly installments to some 39 million families with about 65 million kids starting July 15, part of a program authorized as part of the stimulus bill that Democrats passed without any Republican votes in March.
Experts say the overhaul of the 24-year-old child tax credit could have significant implications for millions of families, particularly low-income households: More than 4 million children could be lifted out of poverty, according to one analysis conducted by the Center on Budget and Policy Priorities at Columbia University.
Here’s everything parents need to know about the payments:
