$2,000 Additional Tax Credit By The American Rescue Plan To Offer ‘Historic’ Relief To Families

Eligible families for the additional tax credit may receive up to $2,000 per child.

$2,000 additional tax credit for American families. (Photo: CNET)

Additional Tax Credit For American Families

The American Rescue Plan offers additional tax credit which will provide historic relief to working families with the highest Child Tax Credit ever. Families eligible for the additional tax credit can receive up to $2,000 per child.

The eligible families will also have the option to claim the refundable additional tax credit if their tax liability is less than the credit available. This additional tax credit can put more money back in parents’ pockets and help offset expenses.

According to a published article by IT Gujarat, eligibility criteria for the additional tax credit include having a child under 17, claiming the child as a dependent, and meeting income restrictions. To learn more about the additional tax credit called Extra Tax Refund Money Under Child Tax Credit, visit irs.gov/childtaxcredit2021.

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Child Tax Credit (CTC)

In a published article by Onlinebseb.in, important dates for the upcoming tax season have been released by the IRS. The deadline for filing your 2023 tax return is January 29th, with a final deadline of April 15th, 2024.

You can request an extension, but make sure to pay your taxes by April 15th. The Child Tax Credit (CTC) for dependent children under 17 has a maximum credit of $2,000 per child for tax year 2023.

There are criteria to meet for eligibility, including family income, citizenship, age, and more. Families may receive the 2021 Child Tax Credit in advance.

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