Second Batch of Child Tax Credit Payments Out Today

Plus: FDA Mulls COVID Booster Shots You are receiving this limited-time email resource as a subscriber to Kiplinger's free e-newsletters. To unsubscribe at any time, simply click the link in the footer below. AUGUST 13, 2021 [View in browser]( HOW TO PROTECT AND GROW YOUR BUSINESS AND INVESTMENTS NOW The IRS is sending the second batch of monthly child tax credit payments today. The first batch went out on July 15, and future payments will be delivered on September 15, October 15, November 15 and December 15. Depending on your family income, each monthly payment can be as much as $300-per-child for youngsters five years old and younger or $250-per-child for kids from six to 17 years of age. (Use our [2021 Child Tax Credit Calculator]( to see how much you should get.) Also note that the monthly payments are simply advance payments of the child tax credit that you would otherwise claim on your 2021 tax return. Parents who receive all six payments will typically get 50% of the credit in advance and then claim the other half on the return they file next year. But take note, the monthly payments are likely to result in either a smaller refund or a bigger tax bill when you file your return next year. How? Every dollar you can claim as a child tax credit on your tax return is subtracted from the tax you owe. If you're only claiming 50% of your credit on your tax return, then you're subtracting less from the total tax liability calculated on your 1040 form. If you're subtracting less, that will play a role in determining the size of your refund or tax bill. But in the end, it's not that you get less money – it's just a question of getting it sooner rather than later. --------------------------------------------------------------- SPONSORED CONTENT FROM NASDAQ [Try Nasdaq's New Options Architect Tool]( Discover how to leverage Nasdaq-100 Index Options to mitigate risk, generate income and maximize exposure to some of today’s most innovative companies. Choose a personalized dollar amount, date range, and investment style to test different options strategies. [READ MORE]( --------------------------------------------------------------- The Food and Drug Administration approved an additional dose of mRNA COVID-19 vaccines for people with conditions that compromise their immune systems. Evidence has shown that these conditions prevented two shots of vaccine from creating a normal antibody response. This decision could also be a precursor to one on whether to allow other vaccinated individuals to get booster shots. More data on how fast vaccine protection deteriorates will likely be needed before the FDA addresses this issue. Vaccination rates have picked up noticeably in the past three weeks, in response to surging infections from the Delta variant of COVID-19. Vaccination rates have tripled or quadrupled in Alabama, Arkansas, Louisiana, and Mississippi, which are among the hardest hit states. They have picked up in the rest of the U.S. as well, especially among 12 to 17 year-olds preparing to go back to school in the fall. Free download, [The Kiplinger Letter's Forecast](. No information required from you. SPONSORED CONTENT FROM NASDAQ [Transform Your Portfolio with Nasdaq-100 Micro Index Options]( Add performance and flexibility to your portfolio with XND, our new micro index options contract. Learn how the smaller notional value is designed to provide investors with a more precise and manageable way to hedge or gain exposure to the Nasdaq-100 Index. [READ MORE]( RELATED LINKS [6 Stocks to Buy as Delta Variant Cases Surge]( [Your Retirement: What’s Luck Got to Do with It?]( [24 Kirkland Products Retirees Should Buy at Costco]( [Why Are Bitcoin Prices So Volatile?]( [Sign Up for Kiplinger's Free Tax Tips E-Newsletter for Money-Saving Tax Planning and Tax Filing Compliance]( [Kiplinger] [Facebook]( [Twitter]( [LinkedIn]( Send this to a friend. [Click here.]( All content ©2021 The Kiplinger Washington Editors 1100 13th Street, NW, Suite 1000 Washington, D.C. 20005 Thank you for subscribing to Kiplinger's A Step Ahead, a free resource to help readers navigate the economic recovery from COVID-19. If you ever wish to stop receiving this service, please [click here to unsubscribe](.