Tax Policy Center

child tax credit

Individual Taxes: TaxVox

How Can Congress Protect Families Who Receive Excessive Child Tax Credit Payments?

Families began receiving monthly Child Tax Credit (CTC) payments on July 15. For many, those regular payments—currently permitted through the end of the year—will combat...
August 10, 2021Elaine Maag
Individual Taxes: TaxVox

Keeping the Monthly Child Tax Credit Coming, Limiting Risk of Overpayments

Beginning in July, most families with children will receive up to $250 a month per child ($300 for children under 6). Those payments are advances...
June 25, 2021Elaine Maag
Individual Taxes: TaxVox

IRS Set to Deliver Advance Monthly Payments: Needs Ability to Update Bank Information

Starting on July 15, the IRS will begin distributing a monthly Child Tax Credit payment to at least 39 million families, or almost 90 percent...
May 25, 2021Elaine Maag
Individual Taxes: TaxVox

Monthly or Quarterly Child Tax Credit Payments? Both Have Value

IRS Commissioner Charles Rettig told the Senate Finance Committee on April 13 that the agency could begin delivering monthly 2021 Child Tax Credit (CTC) payments...
April 28, 2021Elaine MaagWilliam J. Congdon
Individual Taxes: TaxVox

Should All Families Receive the Child Tax Credit?

Last month, my parents received their third round of economic impact payments through the American Rescue Plan (ARP). They decided to turn the proceeds into their own "stimulus payments" for their seven grandchildren.
April 7, 2021Renu Zaretsky
Individual Taxes: TaxVox

Are The American Rescue Plan’s Tax Cliffs Really Such A Big Deal?

Are American Rescue Plan’s Tax Cliffs Really Such A Big Deal? Economists hate cliffs. But the tax cliffs in the ARP may not be so bad.
March 23, 2021Howard Gleckman
Individual Taxes: TaxVox

The Child Tax Credit Grows Up to Lift Millions of Children Out of Poverty

Last week, President Biden signed the American Rescue Plan (ARP) into law. And the Child Tax Credit (CTC) that began life in 1998 as a...
March 16, 2021Elaine MaagNikhita Airi
Individual Taxes: TaxVox

Biden’s Pandemic Relief Bill Is One of The Biggest One Year Tax Cuts in Modern US History

Talk about playing against type: The tax cuts in President Biden’s American Rescue Plan (ARP) are among the biggest one-year tax reductions in modern US...
March 16, 2021Howard Gleckman
Individual Taxes: TaxVox

Advancing Child Tax Credit Payments Makes Good Sense, But the IRS Will Need Funds to Pull It Off.

The plan to expand the Child Tax Credit (CTC) proposed yesterday by House Ways & Means Committee Democrats included an important new feature—the IRS would...
February 9, 2021Elaine MaagHoward Gleckman
Individual Taxes: TaxVox

How Biden Can Expand And Better Target the Child Tax Credit

In a recent blog , I looked at two ways Congress could refocus those $1,400 per person relief payments on those who need it most...
February 2, 2021Howard Gleckman