(CBS Detroit) — The fourth Child Tax Credit payment from the Internal Revenue Service (IRS) goes out soon. But parents want to know when exactly the money will be deposited. Last month’s check came on September 15 for those with direct deposit, or soon after for those who received it through the mail. This month’s payment will be sent on Friday, October 15. Advance payments will continue next month and the following month, thanks to the American Rescue Plan passed back in March. Though another stimulus check seems unlikely at this point, Democratic lawmakers are looking to extend the advance Child Tax Credit through 2025.
Families can use the Child Tax Credit money however they like. That means the extra $250 or $300 per child can be put toward essentials like food or rent. It may…
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