Notice: Trying to access array offset on value of type bool in /home/xtreme/public_html/wp-content/plugins/buddypress/bp-core/bp-core-avatars.php on line 1672

Notice: Trying to access array offset on value of type bool in /home/xtreme/public_html/wp-content/plugins/buddypress/bp-core/bp-core-avatars.php on line 1672
child tax credit – XtremeCuztoms

Category: child tax credit

Democrat Lawmakers Seek Bipartisan Action to Expand Child Tax Credit

As lawmakers weigh proposed legislation that would bring back the 2021 American Rescue Plan child tax credit (CTC) monthly payment and make it permanent, the Senate Subcommittee on Taxation and IRS Oversight held a hearing on July 13 assessing 25 years of the CTC. During the COVID-19 pandemic, under the American Rescue Plan, monthly payments…


Six Major Changes Made by IRS for 2023 Tax Season

Tax year 2022 saw multiple changes made by the Internal Revenue Service to tax limits, credits, standard deductions, and so on. With the deadline for filing returns fast approaching, here is a list of some of these changes. Marginal Tax Rates The IRS slightly changed tax brackets for the 2022 tax year. The top tax…


Good Bills That Would Help California

Commentary Among the 2,632 new bills introduced this year in the California Legislature by the Feb. 17 deadline, there actually are some good ones. Here are three: Assembly Bill 1128 is by Assemblymember Miguel Santiago (D-Los Angeles). It’s a bipartisan bill co-sponsored by Assemblymember Tom Lackey (R-Palmdale) and state Sens. Bill Dodd (D-Napa) and Lena…


Tax-Filing Facts for Working Families

Tax season can be nerve-wracking for many American families. There are a lot of deductions that need to be taken advantage of, and the tax laws constantly change. There are some changes this year that will affect your return. For example, COVID-era tax breaks have expired, which may reduce some families’ refunds. But it’s not…


Changes to the Child Tax Credit—What This Means to Families

Families might see their tax bill increase for 2022. Changes in the Child Tax Credit will affect all income levels. First enacted in 1997, the Child Tax Credit has helped American families weather the cost of raising children. The amount has been changed several times. But this time, it’s going down. What is the new…


Get Up to $3,600 on the Child Tax Credit—Even If You Already Missed It

After the American Rescue Plan Act of 2021 had passed, it included money for needy families with children. The expanded child tax credit (CTC) enables families to receive up to $3,600 per child, but only through the end of the year. Then the credit reverts to $2,000 per child. The plan raised the amount of…


Tax Credits for Your 2022 Tax Return (The One You File in 2023)

The mistake many taxpayers make when considering tax credits is they don’t think about tax credits from the previous year until they are filing their taxes. Start planning early. Whether they are credits new for the tax year 2022, or old ones that have changed, you need to know what is available to you so…


Capitol Report (Feb. 8): Ex-Gay Pastor Sues Vimeo

The vice president and Senate Democrats are reminding parents not to miss out on the second half of payments from the expanded child tax credit. The reminder comes as the Senate is still grappling with how to extend these benefits as the Build Back Better bill remains stalled in Congress. The data is in and it…


Analysis: 1.5 Million Parents Could Drop Out of Workforce Amid Biden Child Tax Benefit

As many as 1.5 million working parents could exit the labor market as more U.S. households receive the expanded Child Tax Credit (CTC) benefit, a new study predicts.   According to a recent analysis (pdf) from University of Chicago economist Bruce Meyer, approximately 2.6 percent of parents could drop out of the workforce after being given…


Illegal Immigrants Would Get $10.5 Billion From Reconciliation Bill

Commentary The budget reconciliation package pushed by Democrats creates a new expanded child tax credit (CTC) that would pay illegal immigrants some $10.5 billion next year. All immigrants with children are eligible, regardless of how they got here and whether their children are U.S.-born. This includes the roughly 600,000 unaccompanied minors and persons in family…