Questions answered as child tax credit payments come to end

Author: External Author | | Categories: Accounting Firm , Finance Services , Tax Services

Families no longer will receive the advanced child tax payments they’ve come to expect each month, but some might still qualify for the credit under its pre-pandemic terms.

In 2021, more than 30 million households qualified for payments of up to $300 per month for eligible children ages 5 and younger and $250 for each eligible child between 6 and 17 years old, according to the federal tax agency.

Those changes expired in January, and Friday marked the first time in six months that many households didn’t receive their monthly payment.

As families adjust to the reset eligibility and filing requirements, here are a few things you should know.

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Original Article Source Credits:   News Nation ,

Article Written By:  Katie Smith

Original Article Posted on:  JAN 14, 2022

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