The Child Tax Credit has been a very welcomed and helpful deposit in many families' checking accounts. Families are using the money to pay monthly bills, pay down debt or simply to keep food in the house for their children. This new tax credit has been life changing for families all throughout the country and the most recent installment is only 2 of 6 that families who want it will receive. Here's when the upcoming payments will happen:
September 15th
October 15th
November 15th
December 15th
If you received your first installment in July via direct deposit, but didn't receive one in August, you are a part of a small percentage of families that were looking for the payment but didn't see it hit your bank account on Friday, 8/13. Don't worry it's still will be coming, but this time via mail. The IRS says this issue will be resolved and you will go back to direct deposits moving forward in September.
If you want to check the status of your payment or if you have been receiving your payments by check but want to receive your payments by direct deposit moving forward - you can check out the Child Tax Credit Update Portal.