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Close up of a mother playing with her kids in the bedroom
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The first monthly payments of the newly enhanced Child Tax Credit (CTC) will be made on July 15, the U.S. Department of the Treasury and the Internal Revenue Service announced Monday.

Around 39 million households, which account for 88% of children in the U.S., are slated to begin receiving the monthly payments without any further action required, the Treasury and IRS said via a statement. The payments — which will be made on the 15th of each month, unless the 15th is a weekend or holiday — will be up to $300 per month for each child under age 6 and up to $250 per month for each child age 6 and above.