Child tax credit: Who is eligible, how it affects your taxes

Starting on July 15, qualified families will receive a payment of up to $300 per month for each child under 6 and up to $250 per month for children between the ages of 6 and 17. The payments are part of President Joe Biden's $1.9 trillion COVID-19 relief package, called the American Rescue Plan Act, which expanded the child tax credit for one year. It also made it possible to pre-pay the benefits on a monthly basis — rather than through tax refunds.