Child Tax Credit
EITC/ACTC Refunds: Is Yours Delayed? Get Updates Here Are you anxiously awaiting your Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) refund? The Internal Revenue Service (IRS) has kicked off the 2024 tax season by dispatching tax refund returns to eager Americans. On Tuesday, February 27, the IRS began the process, and thousands of eligible taxpayers are […]
Save Money on Childcare Expenses with the Generous Child and Dependent Care Credit! Introduction to the Child and Dependent Care Credit: The Child and Dependent Care Credit is a valuable tax credit that can help working families save money on their taxes. If you’re a parent or caregiver, you may be eligible for this credit […]
How Long Does It Take to Get Your Tax Refund If You Claim EITC or ACTC? Are you wondering when you will receive your tax refund if you claimed the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC)? You are not alone. Many taxpayers who are eligible for these credits are […]
When Will the Child Tax Credit Bill Pass? What You Need to Know The child tax credit is a tax benefit that helps millions of families with children. But what is the status of the bill that would expand it? Here’s what you need to know. What is the Child Tax Credit? The child tax […]
2023 Updates on Tax Credits for Children and Other Dependents The Child and Other Dependents Tax Credits are two of the most beneficial tax credits for families with children or other dependents. They can reduce your tax liability and increase your refund, depending on your income and filing status. However, these credits have undergone some […]
Understanding the Children Income Tax Rules: An Overview for Parents As a parent, you want the best for your children, including financial stability and security. And while you may not think about it often, your child’s income is subject to taxes just like yours. The Children Income Tax Rules can be confusing, especially for first-time […]
The Ultimate Guide to Understanding Tax Requirements for Dependents Summary A dependent for tax purposes is a person who you support financially, such as a child, elderly parent, or disabled relative. Tax exemptions are amounts that you can deduct from your taxable income. There are several tax credits that are specifically designed to help taxpayers […]
American Rescue Plan changes can boost refunds for many families, people should file even if they haven’t for years WASHINGTON — The Internal Revenue Service today urged Americans to file a 2021 federal income tax return so they can take advantage of key tax benefits included in the American Rescue Plan and other recent legislation. […]
What’s new with the Child Tax Credit? Child Tax Credit In 2021, The American Rescue Plan expanded the Child Tax Credit—here are the details: The amount for kids under 6 went from $2,000 to $3,600.The amount for kids ages 6-16 went from $2,000 to $3,000.17-year-olds were previously past the cut-off, but are now eligible for […]
For Many Americans, the Earned Income Tax Credit and Child Tax Credit are the Biggest Stimulus Checks of the Year. This Year, Every Dollar Counts. Today, the official start to the U.S. tax filing season, brings an opportunity to empower individual taxpayers by raising awareness of the Earned Income Tax Credit (EITC) and Child Tax […]