Next Child Tax Credit payment set to hit parents' bank accounts

The parents of about 60 million U.S. children are set to receive a second payment under the enhanced federal Child Tax Credit. Some families that missed out on the first check might see their payments kick in this month, while others may need to take action to ensure they get the money. 

The expanded CTC was authorized by the Biden administration's American Rescue Plan as a way to help support families during the pandemic. The tax credit was expanded to $3,600 for each child under 6 and to $3,000 for children ages 6 to 17. That's up from a prior credit of $2,000 per child, with half the money distributed in six monthly checks from July through December.