The first batch of Louisiana's child tax credits were deposited today into your bank account.

For those who chose to not opt-out of the child tax credits, you can expect your first payment either today or later into the weekend, depending on who you bank with. As a father of two girls, these tax credit deposits are welcomed with open arms in the Whatley household. Even though we've been out from under the grips of COVID-19 restrictions for quite some time now, my life still hasn't gotten back to normal, certainly not financially.

I'm sure there are many Shreveport-Bossier parents out there, like me, who elected to not opt-out of the program. This child credit is $3,600 per child under the age of six, and $3,000 for children aged 6-17. The advance child tax credit payment is part of the American Rescue Act to help reduce child poverty by fifty percent.

They will use tax returns filed in 2019 and 2020 to verify eligibility. The payments are broken up into six monthly payments, with the first one set to hit bank accounts today. They will continue at that same monthly rate until December.

Many families did choose to opt-out of the program, however, because you're essentially taking an advance loan from your 2021 tax return. If you choose to not opt-out, the child tax credit you will be given from July-December will be taken out of your 2021 tax return. If your refund is less than the child tax credit you receive, you will have to pay the difference back to the IRS next year.

So, has Shreveport-Bossier parents received their first payment yet? Let us know!

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