Check out the IRS Tax time Guide for tax law changes in effect

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Cover of IRS Publication 5307 "Tax Reform Basics for Individuals and Families."

Millions of families across the United States are seeing checks arrive in the mail and money deposited in their bank accounts this month from advance child tax credit payments.

The batch of payments this month is worth about $15 billion and impacts around 36 million families in the country, according to a press release from the IRS. Payments began Aug. 13.

"Under the American Rescue Plan, most eligible families received the first payment July 15, and payments will continue each month for the rest of 2021," reads the press release. "For these families, each payment is up to $300 per month for each child under age 6 and up to $250 per month for each child ages 6 through 17."

Future rounds of payments will come through on Sept. 15, Oct. 15, Nov. 15 and Dec. 15.

Low-income families can still sign up for the advance payments.

More information can be found at bit.ly/3iUCjJ0.

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