Crucially, however, the very poorest families are eligible to receive the full benefit. Before this year, families were excluded from the credit if they did not earn enough for their income to be offset by the tax benefit. The stimulus package repealed that limitation, meaning that even Americans with no earnings would still qualify for the entire deposit amount. The benefit was also made larger and will go out monthly, instead of when taxpayers reconcile their tax returns. These changes are set to expire at the end of the year, although Democrats in Congress are preparing a $3.5 trillion spending package that lawmakers hope will extend the payments.

Source: Washington Post July 15, 2021 11:16 UTC