HEADLINES & GLOBAL NEWS By Jul 17, 2021 02:43 AM EDT (Photo : Alexander Schimmeck/ Unsplash) Stimulus Checks Up to $3,200 Backpay Will Be Released to About 60 Million American Children This Week; Here's How Yesterday was "a historic day," according to President Joe Biden. "Our effort to make another giant step toward ending child poverty in America," Biden said of the advance child tax credit payments that went out on Thursday. The IRS and US Treasury said that more than $15 billion has been delivered to 35.2 million families that are qualified for the payment. The first thing to realize is that in 2021, you will not get all of your child tax credit payments at once. You'll get six checks in 2021 and one in 2022 unless you inform the IRS you wish to opt-out of the advance monthly stimulus checks. The second thing to know is that the monthly stimulus payments will cover half of your entire child tax credit payment this year, with the other half arriving in one lump sum as part of your tax refund in 2022.