Child tax credit: Who will get $3,600 per child and who won't
Vložit
- čas přidán 8. 07. 2024
- Families with kids could be getting thousands of dollars thanks to the massive stimulus bill passed in March. But how will this child tax credit work? Let’s Connect the Dots.
The stimulus bill expanded the child tax credit for eligible families and could mean as much as $3,600 per qualified kid. Calculating how much you will get is a little complicated.
How much you get per child depends on their age, with kids five and under qualifying for the full $3,600 then $3,000 for kids ages six to 17, and $500 for an 18-year-old who is still a dependent.
So for a single parent, your adjusted gross income needs to be $75,000 or less to get the full amount. While for joint filers that limit is $150,000 dollars. If you make more, the amount you get per child decreases as your income rises.
n order to get the payment, you need to file your 2020 taxes. And you won’t get your payment in one lump sum. The money will be split between 2021 and 2022.
According to CNET, the 2021 portion of the money is expected to start going out in July and will be paid periodically. Though right now there is no set schedule.
Story: www.whas11.com/article/money/...
Follow WHAS11 on Social:
Facebook: / whas11...
Twitter: / whas11...
Instagram: / ...
Subscribe to WHAS11 for exclusive content: czcams.com/users/WHAS11News?s....
Download the WHAS11 News app
Apple: apple.co/325dTnY
Sounds like a mess waiting to happen!
We already filed 3 months ago
And dad's are still forced to pay child support even when mom gets this and allowed to keep him away
Easy! Stay married!
How does this work ? My husband claimed our son for the 2020 I claimed him for 2019 they give me 2800 bc they went off of 2019 soooo how they going to handle it this time???
I have 2 but claimed 1 child bc my second son was born February 24
My daughters will be 18 in July. Will they still qualify regardless of their date of birth?
No