Even though it initially appeared that the latest round of stimulus checks would be the last pandemic relief money that most of us would see, that may not be the case.

According to CNBC, some Americans could begin getting monthly checks in July.

It’s all part of an expanded child tax credit.

Who will get the money?

Single parents making less than $75,000 per year, and couples making less than $150,000 per year, will be eligible to get money for each of their dependent children.

How much will the parents get?

For each child under the age of 6, the parents will receive a check for $300.  For each child aged 6 to 16, the parents will get a check for $250.  These checks will come out on a monthly basis from July through December.

Those monthly payments will act as the first half of a year’s worth of the child tax credit.  Parents will get the remainder of the credit next year.  It will come in the form of a tax credit that you can use when you file your taxes in the winter / spring of 2022.    In total, qualified parents will get $3,600 per child under the age of 6 and $3,000 per child between the ages of 6 and 16.

There is no limit on the amount of children each family can claim.

Why monthly checks?

It was decided that dolling the money out on a monthly basis would make it more useful to families.  Instead the large lump sum going to a large purchase, the monthly payments would allow it to be used


 

People who make over the income limits would still be eligible for the regular tax credit.  Assuming those people met the eligibility requirements.

While the IRS is working hard on the project, there is no guarantee that the first checks will be sent out in July.

The entire program is part of President Joe Biden's $1.9 trillion relief package.

How Many in America: From Guns to Ghost Towns

Can you take a guess as to how many public schools are in the U.S.? Do you have any clue as to how many billionaires might be residing there? Read on to find out—and learn a thing or two about each of these selection’s cultural significance and legacy along the way.

LOOK: 15 Discontinued McDonald's Menu Items