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Does the payment of your child discount come with a debit card? This is what we know



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How do you get your child discount?

Sarah Tew / CNET

You can expect the former payment of the child discount to arrive July 15. But do you know how the IRS will send your payment up to $ 300 per month per child? (Calculate the size of your child tax voucher here.)

The IRS estimates 88% percent of that families with children will automatically receive a payment from July 15th – unless you unsubscribe from monthly payments and choose to receive one check in 2022. A pandemic-inspired payment like the incentive checks and additional payments, child benefits go out every month to families with eligible children, via direct deposits directly into bank accounts, as paper checks by mail and on debit cards.

While the majority of parents who qualify receive their money via automatic deposit, details about the debit card payments are still unclear. Here’s what we do and don’t know about child tax debit cards. Read to learn more about the two portals the IRS will open in July to help you manage your payments and what to do when you are at a standstill waiting for your stimulus check.

Who could receive the money from their child discount on a debit card?

The IRS said on May 17 that debit cards would be one of three ways it would provide tax credit for kids each month, with direct deposits and paper checks being the other two methods. Most payments are expected to be deposited directly into bank accounts – 80 percent of the tax refund is sent as direct deposit, and the IRS said it is “committed to maximizing the use of direct deposit” for paying child discount. Just like tax returns and with all three incentive checks, people who have not registered direct deposit information with the IRS will receive either a paper check or a debit card.

The IRS told CNET it’s still working out the details for who gets what, but in general:

  • The IRS has sent incentive payments on Direct Express debit cards – which the Social Security Administration and the Department of Veterans Affairs use to send benefits – and on prepaid EIP debit cards to some people for all three rounds of payment. It is not clear whether you can change your payment method to one of the IRS Portals when they launch on July 1.






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Child discount: everything we know




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Who is eligible for the child discount?

The IRS estimated 39 million households are eligible for the advance child discount. Children 17 or younger are eligible for $ 3,000 each. Children under the age of 6 are eligible for $ 3,600 each. An 18-year-old dependent may be eligible for a payment of $ 500. And a dependent between the ages of 19 and 24 attending college full-time may also be eligible for $ 500.

When does the IRS send the payments?

Half of you child benefits will go out via monthly payments this year, from July 15th to mid-December. Subsequently, if you file your tax return in 2022, you will receive the remainder of the money for which you qualify.

Here’s how to save money through government programs this year claim up to $ 16,000 in childcare costs and how to save up to $ 50,000 via one-time COVID-19 credits and benefits.


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