Millions of Georgians to see child tax credits hit bank accounts as soon as today

GWINNETT COUNTY, Ga. — Millions of Georgia families could see extra cash in their bank accounts as soon as Thursday as the federal child tax credit takes effect.

The credit is part of the $1.9 trillion stimulus package.

It could mean up to $300 a month for families until the end of the year and more in tax cuts next year.

[READ: Child Tax Credit: IRS launches new tools for advance payments]

Channel 2′s Richard Elliot met Elizabeth Wagner and her two children, McAllister and McKinley, in a shopping center parking lot in Tucker.

She knew all about the child tax credit due to hit millions of bank accounts nationwide starting Thursday.

“It’s going to be very helpful to have that extra money to help us out monthly with the extremely expensive child care,” Wagner said.

Families and single parents who qualify could see up to $300 a month per child through the end of the year.

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They could claim the rest of the credit on next year’s taxes.

Georgia Democratic Party chair and Rep. Nikema Williams said the child tax credit will help families coming out of the pandemic.

“In Georgia, millions will feel that impact. Tax cuts of $1,600 per child will benefit the families of 2.2 million kids here in Georgia,” Williams said.

[READ: Should child tax credits be permanent? Local advocates say ‘yes’]

Elliot contacted several Georgian and national Republican lawmakers on Wednesday, but no one responded to his request for comments on this story.

On Twitter, many Georgia Congressional Republicans worried the stimulus could cause more inflation.

“Biden inflation is hurting hardworking Americans at every turn in every community,” Rep. Drew Ferguson tweeted.

Brianna Young is a single mom to her 3-year-old daughter, Britney. She told Elliot that she’s OK with the tax credit, though worries it won’t go very far.

[READ: Child Tax Credit: Parents will start receiving monthly advance payments July 15]

“I think it’s a little bit of help, you know. I’m not getting much from the government, but I guess it’s a little extra help,” Young said.

If you filed a tax return in 2020 or 2019, you should get the credit automatically.

If you didn’t, you may have to go to the IRS website and update your information.