$3,000 Child Tax Credit to Begin in July, Says IRS
- 3 years ago
$3,000 Child Tax Credit , to Begin in July, Says IRS.
IRS Commissioner Charles Rettig addressed
the credit on Tuesday during a Senate hearing.
It is part of the
Biden administration's
American Rescue Plan.
For the 2021 tax year, the credit equates to
$3000 for children between the ages of six and 17.
and $3600 for children under 6 years old.
Individuals making less than $75,000
and couples making less than $150,000
annually will receive the full credit.
If children meet the age requirements
and individual or family income
is within the threshold, .
there is no limit to the number of children
that may receive the credit.
The credit will be implemented for one year
IRS Commissioner Charles Rettig addressed
the credit on Tuesday during a Senate hearing.
It is part of the
Biden administration's
American Rescue Plan.
For the 2021 tax year, the credit equates to
$3000 for children between the ages of six and 17.
and $3600 for children under 6 years old.
Individuals making less than $75,000
and couples making less than $150,000
annually will receive the full credit.
If children meet the age requirements
and individual or family income
is within the threshold, .
there is no limit to the number of children
that may receive the credit.
The credit will be implemented for one year