- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
@Lunacasa21 Here are a couple of the most important parts of the article you linked to
Is the $300 payment really coming today
However, this claim is incorrect. It appears to misrepresent a program from the American Rescue Plan, which provided advance child tax credit payments to parents, not children, from July to December 2021. No such program is scheduled to begin in July 2024, according to tax experts and the IRS.
President Joe Biden's proposed 2025 budget aims to reinstate the expanded child tax credit of 2021 and to allow families to receive their tax credits through monthly payments. However, this proposal is unlikely to pass in the Republican-controlled House.
The original program provided up to $300 per month for children under 6 and up to $250 per month for children aged 6 to 17, with payments directed to parents. The program ended in December 2021, and there is no indication of its revival.