First Advance Child Tax Credits Issued Today

The first of the monthly child tax credit advances were issued today. The IRS issued close to $15 billion of checks to individuals and families today. Most payments were for $250 per child, and $300 if the child is under 6.

We mentioned a few weeks ago that individuals could opt out of the advanced payments through the IRS website. In order to opt out of the August payment, you need to unenroll by August 2nd. You can opt out with the IRS here.

Here’s the payment schedule and unenrollment deadlines for the next few months.