Tag Archive for: child tax credit

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Four Popular Tax Credits Could Soon Carry A New Refund Requirement

The Treasury Department and IRS have proposed an eligibility test affecting four widely used individual tax credits. The change would apply only when a credit produces money beyond the taxpayer’s federal income tax liability—and one filing detail could determine whether that additional amount is paid.

The Child Tax Credit Could Be Worth Over $2,000 Under Republicans’ Spending Plan—But Millions Of Families Would Be Ineligible For Full Benefit

Despite the potential increase that Republican lawmakers are pushing to boost the child tax credit as part of their budget reconciliation plan, approximately 17 million children would still not qualify for the full credit.

When Does The IRS Start Processing Tax Returns With Child Tax Credit?

For those eagerly awaiting their tax returns, understanding the processing timelines is crucial. The IRS provides valuable information to address common queries and concerns in return processing, especially when claiming the Child Tax Credit.
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3 IRS Deductions You Can’t Take This Year, Experts Warn

Before you file, you'll want to be aware of any changes for the 2023 tax season. Experts warn that there are a few key deductions you can't take this year—which could affect what your refund adds up to. There are also a few updates to tax credits as well. CLICK ON THE HEADLINE FOR MORE
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Tax Benefits 2022: What Are The Benefits That Are Reversing The Tax Rules?

To better understand how the main tax advantages will alter over the upcoming tax season, CLICK ON THE HEADLINE
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Romney Child Tax Credit Proposal Could Be A Lifeline — But It Has Some Big Flaws

Dubbed the The Family Security Act 2.0, Senator Mitt Romney is eager to bring the boosted Child Tax Credit back to life. But while his proposal is a positive one in nature, it has a couple of major flaws. CLICK ON THE HEADLINE FOR MORE