The American Rescue Plan Act (ARPA) expanded the child tax credit for the tax year 2021 to help ease the financial burden on families caused by the pandemic. In 2021, the child tax credit amount increased. In addition, the age limit of a qualifying child increased to 17. It also made the tax credit fully…

The American Rescue Plan Act of 2021 significantly increases the Child Tax Credit (CTC) for one year to help families impacted by the pandemic. Millions of eligible families will receive a CTC of $3,000 to $3,600 for each child. Additionally, half of the credit will be paid in advance. On July 15th, the IRS will…

The American Rescue Plan Act of 2021 authorized the third round of economic impact payments, also known as stimulus checks, for individuals and their dependents. These payments are non-taxable. Here are some frequently asked questions regarding eligibility, payment amount, income limitations, how payments will be delivered, and more. When will the third round of stimulus checks…

On March 6th, the Senate voted to pass the 1.9 trillion stimulus plan which includes provisions to make the Child Tax Credit (CTC) available to more families. Millions of American Families could receive advance payments of this credit as early as July. Up to half of the credit could be paid in monthly installments of…