Have questions?  info@icarol.com

Follow Us! iCarol software twitter iCarol software Facebook iCarol software YouTube iCarol software LinkedIn     |    FREE TRIAL     |     SIGN IN
Logo
Logo

Reuters: Millions receive first child tax credit payments

mom places mask on small child

From Reuters: 39 million U.S. households will be issued monthly federal checks started Thursday as part of a massive expansion of the child tax credit. The Center on Poverty and Social Policy at Columbia University estimates that the expansion can lift 5 million children out of poverty and reduce the U.S. child poverty rate by up to 45%.

The approach is notable both for its wide reach – the checks issued this week will reach nearly 90% of U.S. children, according to Internal Revenue Service estimates – and for distributing half the money monthly instead of in one lump at tax time.

The program, which is not limited to low-income families, is being likened to a universal basic income for children. Single parents earning up to $75,000 and couples making up to $150,000 can receive the full credit.

Under changes made by the American Rescue Plan passed in March, families will receive up to $3,600 for every child under age 6 and $3,000 for those ages 6 to 17, up from $2,000 per child. A minimum income requirement was removed and the credit was made fully refundable, making it more accessible to parents who don’t work and those with low tax bills.

Click here to read the full article.

Tags: ,

Trackback from your site.

Dana

Dana joined the iCarol team in 2013 after 12 years of direct service and administrative duties at a blended 2-1-1/crisis intervention/suicide prevention center. As the Communications and Social Media Manager at iCarol, you'll find her presenting Webinars, Tweeting, Blogging, Facebooking, and producing other materials that aid helplines in their work.

Leave a comment

Follow Us On Twitter

iCarol Helplines Around the World!

© 2021 iCarol, a Division of N. Harris Computer Corporation. All Rights Reserved.

iCarol helpline software   iCarol helpline software   iCarol helpline software   iCarol helpline software