Memphis, Tennessee – Thanks to the expanded child tax credit approved by the American Rescue Plan Act.
Memphians learned this Saturday at the second of two tax events this weekend hosted by the IRS and the United Way.
“The Child Tax Credit is a credit for anyone who has children under the age of 17, and most people are eligible for this credit without doing anything,” said Letitia Williams, manager of the Taxpayer Assistance Center.
Williams said there are a few changes this year, including increasing the loan from $ 1,000 to a maximum of $ 3,000 per child.
“We’re here today to help taxpayers qualify for child tax deduction,” she said. “The child discount was changed this year to allow people to receive this advance year-round. Most people will have quality for it if they have children under the age of 17. “
The first monthly American Rescue Plan child tax credit payments were made on July 15 and will be paid monthly through December 15.
Families receive up to $ 300 per month for each child under 6 years of age and up to $ 250 per month for children 6 to 17 years of age.
Volunteers and IRS staff also helped people get other benefits such as: B. Registration for the third wave of stimulus checks valued at $ 1,400. You can also request the refund credit for any amount you may have missed on the first two exams.
Williams said events like this don’t just benefit families who benefit.
“It will kick off the economy and kick-start the economy and have people who can get this money all year round and not have to wait until the end of the year to get this loan,” she said.
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