MANY Americans are calling for a December stimulus payment after some families are sent a surprise $10,000 payment.
Families are eligible to claim credits for expenses of up to $8,000 for one child and $16,000 for multiple kids in a surprising new stimulus payment.
Specifics that count as qualifying expenses include, transportation, housekeepers, babysitters, before and after school programs, as well as day camps and daycare.
In addition to that, they can be used to care for dependents with disabilities.
In the past, families were able to just claim $6,000 for two or more children.
It comes after millions of families received a stimulus check worth $300 per kid as November’s child tax credit payments are rolled out.
Read our child tax credit blog below for the latest news and updates…
WHEN CAN YOU EXPECT THE NEXT CHILD TAX CREDIT PAYMENT?
Those who have been receiving monthly payments of up to $300 should have expected their fifth installment on November 15.
The final payment in 2021 is scheduled to be sent out on December 15.
The remaining half of the child tax credit will be processed after filing a 2021 tax return next year.
GROUP SUGGESTS INCREASING CTC COVERAGE WOULD HELP REDUCE HARDSHIP
Finally, the NBER found, “increasing the CTC coverage rate would be required in order for material hardship to be reduced further.”
“Self-reports suggest the lowest-income households were less likely than higher-income families to receive the first CTC payments,”…