What’s new about the Child Tax Credit in 2021?
The child tax credit, or CTC, was first introduced as part of the Taxpayer Relief Act of 1997 and has been integral in providing financial support for American taxpayers with children. As part of the American Rescue Plan - the coronavirus relief package that took effect in March 2021 - the tax credit was significantly expanded from up to $2,000 per qualifying dependent to and a maximum of $3,600. Additionally, from July through December of 2021, many taxpayers received half of the credit as advance monthly payments. Nerdwallet provides an overview of what you need to know about the expanded...
February 28, 2022
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