In March, President Biden signed the American Rescue Plan into law, which saw a third stimulus check, valued at $1,400, go out to millions of eligible Americans. Well already, many of those recipients are ready for another direct payment and while there is no word if a fourth stimulus check will be distributed, that doesn't mean certain people won't be getting money from Uncle Sam. In fact, the American Rescue Plan lays out a way for qualified Americans to get not just one more check, but monthly ones.
It's open to married couples who together earn $150,000 or less and have children, or individual parents making $75,000 or less. Thanks to the expansion of the federal child tax credit, for every child those moms and dads have between the ages of 6 and 17, they'll get a check for $250 every month for six months - that's $1,500. For any kid they have under the age of six, they'll get $300 monthly for six months, totaling $1,800. That's not all though, they will also get a tax credit next year - $1,500 for each kid six to 17 and $1,800 for each child under six.
As for when they'll start getting them, because the IRS has to create a new online portal for this and hire and train staff, all while they are handling a more-complex-than-usual tax season, the checks won't begin to go out until July. However, once they start getting sent out, eligible recipients will get one every month through December. You'll be able to learn more about how to sign up once the portal is up and running in the summer.
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