IRS Commissioner Assures Swift Action on Child Tax Credit Enhancements for American Families
IRS Prepares for Quick Implementation to Aid American Families
According to the report of Fingerslakes.com, in a recent meeting with Congress, IRS Commissioner Danny Werfel promised that the IRS is ready to quickly make any approved changes to the child tax credit. This follows a law called the Tax Relief for American Families and Workers Act which aims to make the child tax credit better. Werfel said it might take six to twelve weeks to make these changes after they’re approved but they’ll try to do it faster. The changes could mean more money for families with children for the years 2023 to 2025, which shows the government wants to help American families more during tough times.
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Proposed Changes to Child Tax Credit Offer Hope for American Families Struggling Financially
Even though the current child tax credit is not as good as it was in 2021, the changes being talked about now could help families a lot. They might change how the credit is calculated and give more money per child. This shows the government is trying hard to help families who are struggling with money.