After today's check, three monthly payments remain in 2021, with one more payout next year. And there's a chance the enhanced credit could go until 2025.
Expect monthly payments through December, as well as a payout during tax season next year.
Once you get your third child tax credit check today, you'll have three more payments left in 2021 and one more in 2022. If you choose to receive the monthly payments, you're getting 50% of the total credit in six monthly installments, and the rest with your tax refund in 2022. That could mean up to $3,000 annually for each child between ages 6 and 17, and up to $3,600 annually for each under age 6 -- and it's fully refundable.
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