The IRS is sending letters to more than 36 million families who may qualify for monthly payments under the federal Child Tax Credit. Under the expanded tax benefit, families may be eligible to receive up to $300 per child on a monthly basis from July 15 through December 15.
President Joe Biden’s $1.9 trillion American Rescue Plan expanded the Child Tax Credit from $2,000 annually to as much as $3,600 per child. It also will send monthly payments to parents of children under 18, providing what one expert has called "a baby step toward universal basic income."
The IRS said it […]
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