The U.S. Department of the Treasury and the Internal Revenue Service announced today that the first monthly payment of the expanded and newly-advanceable Child Tax Credit (CTC) from the American Rescue Plan will be made on July 15.
Now, the IRS has sent out 167 million payments, at a total dollar value of $391 billion, through May 26. Politifact reported recently that the total amount allocated in the Rescue Plan for the stimulus checks was $410 billion, meaning there’s not much money left to go out.
IRS is trying to catch stimulus payment fraud, but billions may have been paid accountingtoday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from accountingtoday.com Daily Mail and Mail on Sunday newspapers.
<p><span>Today, the U.S. Department of the Treasury, the Internal Revenue Service, and the Bureau of the Fiscal Service announced they have disbursed more than 1.8 million additional Economic Impact Payments under the American Rescue Plan.</span></p>