There is a new stimulus payment that folks with dependent children, under age 17, are about to receive, on a monthly basis, thru the end of the year.
This payment is an ADVANCE of your tax refund for next year. That means your income tax refund will be much less then you are accustomed to getting. You need to do nothing if you want this part of your refund now. The IRS will automatically send you a check or direct deposit the funds for you.
If you don’t want advance payments of next year’s tax refund, which starts July 15th, you can opt out. Go to the IRS website, and then, go to the Child Tax Credit Portal, this gives you a way to unenroll from the monthly payments.
Here are some links with more information:
https://www.newsweek.com/what-child-tax-credit-how-opt-out-amount-direct-payments-1603354
