Some American families could see some extra cash in their accounts soon.
The Biden administration announced 39 million families will get their first monthly tax credit on July 15.
The temporary payments are worth up to $300 per month for each child under 6. For each child over 6, the credits are worth up to $250.
These payments are part of the $1.9 trillion COVID relief plan signed into law in March.
Families that do not have direct deposit set up with the IRS will get a check or debit card mailed to them.