October’s payment will be the fourth of six advance monthly installments of the 2021 child tax credit.
These six payments, usually in amounts of either $250 or $300, will amount to half of the total benefit amount. For an eligible child receiving the full amount of $300 per month, this equates to $1,800 in advance payments and another $1,800 to be claimed next year during tax time. The maximum total benefit amount is $3,600 per child under the age of six. Children over the age of 6 through age 17 are eligible for $250 a month, and even older college-enrolled children can qualify for lesser amounts.
IRS Child Tax Credit Explained
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