Money on the table: child credit $ available via tax returns
Source: AP
By JOSH BOAK
The Biden administration wants families with children to know that there is roughly $193 billion waiting for them all they need to do is file their taxes to claim it.
That estimated total is what remains of the expanded child tax credit, and the administration is concerned that some of those most in need of the assistance may be the least likely to get what is due to them.
President Joe Biden increased the payments and expanded who was eligible as part of his coronavirus relief package. While most families already received half of the credit as monthly payments last year, theyll lose out on the remaining balance unless they file their taxes.
Vice President Kamala Harris, Treasury Secretary Janet Yellen and White House senior adviser Gene Sperling held a virtual event Tuesday to encourage people to send their tax forms to the IRS, including those whose incomes are so low that they might not have traditionally filed.
President Joe Biden speaks in the East Room of the White House, Monday, Feb. 7, 2022, in Washington. The Biden administration is kicking off an outreach campaign to get millions of families to file their taxes so that they can receive the second half of payments from the expanded child tax credit. (AP Photo/Alex Brandon)
Read more: https://apnews.com/article/business-lifestyle-kamala-harris-janet-yellen-gene-sperling-3e82e96c545b8bd117c747b0ca3f226a
LaMouffette
(2,013 posts)I don't even have kids, but it just warms my heart that President Biden and Vice President Harris are doing this. Can you imagine what Republicans would have done if they had found $193 billion left over in a social spending program? Certainly not distribute it to help the people it was supposed to help.
Justice matters.
(6,874 posts)Expecting most of it to come back in their own campaign coffers.