In 2021, the American Rescue Plan Act temporarily expanded the child tax credit (CTC) to provide a credit of up to $3,000 per child ages 6 to 17 and up to $3,600 per child under age 6. Many families with very low incomes, including some not typically required to file a tax return, were eligible...
Families typically receive the child tax credit (CTC) as part of an annual refund after filing their tax returns. The American Rescue Plan Act changed that temporarily. From July to December 2021, the Internal Revenue Service automatically delivered up to half the anticipated annual credit to...
The American Rescue Plan Act of 2021 (ARP) temporarily increased the child tax credit (CTC), made the credit fully refundable, and authorized the IRS to issue up to half the credit as an advance monthly payment beginning in July 2021. The IRS reports that nearly 61 million children received the...
The Coronavirus Aid, Relief, and Economic Security (CARES) Act provided most US households with one-time economic impact payments to mitigate the negative economic effects of the COVID-19 pandemic. The Internal Revenue Service was responsible for distributing the payments, which were rapidly...
Fast-approaching government shutdown deadlines in Congress are providing renewed momentum for an expansion of the Child Tax Credit (CTC). A targeted CTC expansion would deliver...
