The EITC and CTC are financial lifelines for low-income individuals and families. ... the poverty rate for children fell from 15.8 percent in June 2021 to 11.9 percent in July 2021, ...

From July to December, the IRS delivered advanced payments of the 2021 expanded child tax credit (CTC) to the families of over 61 million children. Most received half of their credit but will need ...