Stimulus payments will continue to flow to American families in October of 2021. The payments are part of the expanded Federal Child Tax Credit. The bigger credit was made possible because of the American Rescue Plan signed into law by President Joe Biden back in March. This means $15 billion per month gets delivered to families until the end of 2021.

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The key difference between the expanded Child Tax Credit and the regular tax credit is how it is paid out. The American Rescue Plan made the first half of the new credit monthly payments sent directly to families between July and December of 2021.

The next payment gets delivered on October 15. It is the 4th payment in a series of 6 payments. For most families, it will be sent to their bank accounts without them having to do anything. People who receive the money by check will have to wait a few days for the mail to get there.

How much money will families get? It depends on the age of the child. The credit has been expanded to a maximum of $3,600 per child for children under 6 years old. The credit tops out at $3,000 for children between 6 and 17 years old.

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In terms of monthly payments, families will receive their check for $300 for each child under 6 years old. The payment will be $250 for each child between the ages of 6 and 17 years old.

Even if you don't make enough money to pay taxes, you can still get the payments. You just need to sign up for them.

Families will only receive the money if they qualify. According to the IRS:

The Child Tax Credit begins to be reduced to $2,000 per child if your modified AGI in 2021 exceeds

$150,000 if married and filing a joint return or if filing as a qualifying widow or widower;

$112,500 if filing as head of household; or

$75,000 if you are a single filer or are married and filing a separate return.

The first phaseout reduces the Child Tax Credit by $50 for each $1,000 (or fraction thereof) by which your modified AGI exceeds the income threshold described above that is applicable to you.

The IRS will send a letter to anyone who received the advanced payments of the increased federal Child Tax Credit.

These payments, at the moment, are temporary. Some Democrats in Washington D.C. want to make the payments permanent.