You have until 11:59 p.m. on Monday to opt out of monthly payments.
Monday is the last day for parents to choose to receive enhanced Child Tax Credit direct payments in one lump sum, the IRS said Monday. For those who do not opt out by 11:59 p.m. Eastern time, the payments will come in a monthly check. The Child Tax Credit is part of President Joe Biden ‘s $1.9 trillion coronavirus relief package passed earlier this year. Families can receive as much as $3,600 for each child under the age of 6, and the advance tax credit payments will be $3,000 annually per child between 6 and 17. Parents have the option of requesting to receive the payments in one large check. Otherwise, should they not take any action regarding the tax credit payments, they will receive monthly payments on or around the 15th of each month, beginning in July. People can choose which option they prefer with the IRS even if they did not fully file their taxes.
