The Treasury Department and IRS released details of the second round of Advance Child Tax Credit payments and said they are working on a sign-up tool for mobile devices.
Payments: August payments—which the Treasury announcement breaks down by jurisdiction—totaled $15 billion and went to families with roughly 61 million eligible children, up 1.6 million from the previous month.
Background: Eligible families receive up to $300 per month for each child under age 6 and up to $250 per month for each child age 6 to 17.
Tool: Treasury also said it is working to create a permanent, multi-lingual, and mobile-friendly sign-up tool to help more non-filers claim the credit.
Sign-up: The agencies also said families can still sign up for payments or stop payments even after they have begun.
Resources: Additional information is available on ICBA’s frequently asked questions on the payments and via the IRS website.
