Child Tax Credit 2021

The child tax credit is bigger and better than ever for 2021, which should make things a little easier for families taking a financial hit during the COVID-19 pandemic. Thanks to the recently enacted $1.9 trillion American Rescue Plan Act of 2021 (“American Rescue Plan”), the credit amount is significantly increased for one year, and the IRS is required to make advance payments to qualifying families in the second half of 2021.

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