The IRS offers child tax credits to help parents and guardians offset some of the costs of raising a family. Parents haven't received a monthly child tax credit payment since December, and their last check was disbursed with their tax returns this year. Under the current child tax credit, children from families with little or no income receive only part of the credit or receive no money at all. The qualifying children and dependents are the same as those applied for under the federal child tax credit.
The proposal follows the expiration of an expanded child tax credit that gave families access to monthly child tax credit payments for the first time. The CTC payment that families will receive when they file their tax return may be reduced to pay other taxes or debts they owe. To expand the child tax credit, the Internal Revenue Service (IRS) began sending monthly payments on the 15th of each month (July through December). The credit is only available to children under 6 and the family must qualify for the California Earned Income Tax Credit.
In addition, a large cut in the earned income tax credit and other compensation could worsen the situation of millions of children, according to the Center for Budget and Policy Priorities. If a parent is not required to file taxes and missed the tax filing deadline, you can use the simplified filing tool GetCTC to claim your payment from the CTC. Find out if your state plans to send money for the child tax credit or offer deductions, and if you're eligible. To help you determine exactly what part of the credit you qualify for, you can use the worksheet on the child tax credit and the credit for other dependents provided by the Internal Revenue Service.
Some children from families with little or no income may receive a partial child tax credit or receive no credit. The child tax credit (CTC) is designed to increase the income of parents or guardians of children and other dependents. The extended child tax credit applies to dependents who are 17 or younger at the end of the tax year. Most eligible families didn't have to do anything to receive tax credit payments; the IRS sent them to taxpayers because they were eligible under previous income tax returns, according to Gabriela Gomez of the Los Angeles County Department of Public Utilities.