Over the next six months, the IRS will be sending billions of dollars to families with children ages 17 and younger, but the distribution is already causing anxiety, The Washington Post reported. The IRS and Treasury said the tax service deposited roughly $15 billion in bank accounts this week for the nearly 60 million children eligible for the monthly expanded child tax credit. Eligible families receive an advance payment of up to $300 per month for each child age 5 and under and up to $250 for each child ages 6 through 17. But many families are unsure whether their child qualifies for the credit, particularly those with newborns or custody issues, judging from questions posed during an online discussion ahead of the first distribution on July 15. The article features a question-and-answer session with Ken Corbin, the IRS’s wage and investment commissioner and its chief taxpayer experience officer.
