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Child Tax Credit: What You Need To Know
The Child Tax Credit was extended and officially started July 15.
The Child Tax Credit was extended and officially started July 15.
The IRS will begin disbursing checks to eligible families with children ages 17 or younger.
The new enhanced credit is part of a federal government effort to use the tax code to help low- and moderate-income families weather the ongoing challenges of the pandemic.
Here’s what you need to know:
1. More Parents Qualify For The Child Tax Credit
Households earning $112,500 and joint filers making up to $150,000 are qualified.
Single taxpayers must earn less than $75,000.
For many families, the credit then plateaus at $2,000 per child and starts to phase out for single parents earning more than $200,000 or for married couples with incomes above $400,000.
2. Some Undocumented Parents Are Eligible
If a parent isn’t a citizen, they can still receive the money as long as they have individual taxpayer identification numbers (ITIN) and their children have Social Security numbers.
Check your eligibility.
3. The amount families will receive varies and depend on income and family size.
According to CNN, “Eligible families can receive a total of up to $3,600 for each child under 6 and up to $3,000 for each one age 6 to 17 for 2021. That’s an increase from the regular child tax credit of up to $2,000 for each child up to age 17.”
The funds will be given out on the 15th of each month from now until the end of the year.
Payments will be delivered through a direct deposit, paper check, or debit card.
Parents will get half their credit, up to $300 a month for each child under age six and up to $250 for each one ages 6 to 17.
Parents can claim the other half when they file their 2021 taxes in 2022.
Check to find out if you’re enrolled to receive advanced payments at an IRS portal.
Can receive a lump sum
If you rather receive your payment as a lump sum, you can opt-out of the monthly installments.
4. Non-Filers Can Receive Payments
Most families will get the credit automatically and don’t have to do anything since they filed 2019 or 2020 returns claiming the credit.
However, if you didn’t file a tax return recently or used the non-filer tool, you must take action.
CNN reports, “They can use another IRS portal to register to receive the enhanced child tax credit. The sign-up tool allows users to provide the necessary information about their households and, if they choose, their bank accounts so the agency can directly deposit the funds.”
What are the dates for the other payments?
The IRS says the monthly payments will be disbursed on these dates:
- July 15
- August 13
- September 15
- October 15
- November 15
- December 15
The expanded Child Tax Credit should help parents pay for basics such as child care, groceries, school supplies and the costs of raising a family, experts say.
For more information on The Child Tax Credit on The White House website.
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5-year-old helps save his family from house fire
5-year-old Juwan Perry Jr. is being held a hero after saving his family from a house fire. Juwan’s mom says if it wasn’t for her son they likely wouldn’t have survived.
5-year-old Juwan Perry Jr is being held a hero after alerting his mother to a house fire, saving his family lives.
5-year-old saves family
On Apr. 5th around 4:40 am, Juwan woke up to the smell of smoke in his home in Warren, Michigan.
He said he saw flames and called for his mother.
His screams came just in time, and his mom Brittany was able to get all seven of the children in the home outside to safety.
Juwan’s mom says if it wasn’t for her son they likely wouldn’t have survived.
As for Juwan, he told WXYZ-TV his motivation for helping save his family despite the fear. “Because I love everybody,” he said.
The Warren Fire Department got the fire under control but the home is a total loss.
To help in recovering from this devastating loss, a GoFundMe has been launched to support them during this challenging time.
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Unheard Voices Magazine is a news reporting platform covered under Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research.
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Magnitude 4.8 earthquake strikes northeastern United States
A magnitude 4.8 earthquake in Lebanon, New Jersey shook the northeastern United States on Friday morning.
A magnitude 4.8 earthquake shook the northeastern United States on Friday morning.
Magnitude 4.8 earthquake
According to the U.S. Geological Survey, the earthquake was detected near Lebanon, New Jersey, at 10:23 a.m. Friday.
The earthquake was felt in New Hampshire down to Maryland.
Notable event
According to the Richter scale, which is used to measure earthquake magnitude, they considered the event a “light” earthquake. Still, the geological survey posted on X that it was “notable.” They went on further to say earthquakes are “uncommon but not unheard of along the Atlantic Coast”.
It’s not yet clear if anyone was hurt in Friday’s quake.
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Unheard Voices Magazine is a news reporting platform covered under Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research.
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9-year-old cancer survivor killed in tragic school bus accident
A family is in mourning after a 9-year-old cancer survivor was tragically killed in an accident in Orlando.
A family is in mourning after a 9-year-old cancer survivor was tragically killed in an accident in Orlando, Florida.
9-year-old cancer survivor tragically killed
Elyas Amyr Marshall-Rodriguez got off the bus Tuesday afternoon and, as he was walking away from the bus, he dropped his football when he crawled under the bus to get it and the vehicle began moving.
Marshall-Rodriguez was in remission for leukemia when he was killed on Tuesday after being diagnosed at 2-years-old, according to his family who spoke at his vigil.
He loved life
“He was the life of the party,” said Trenae Gayle, Marshall-Rodriguez’ cousin. “He loved football; he loved basketball. He loved all sports.”
The family has set up a GoFundMe.
The Florida Highway Patrol is investigating the incident and the investigation is currently ongoing.
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Unheard Voices Magazine is a news reporting platform covered under Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research.
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