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Explaining recent IRS letters about the Child Tax Credit Share Updated: 9:46 AM CDT Jun 9, 2021 Ben Simmoneau Share Updated: 9:46 AM CDT Jun 9, 2021 Hide Transcript Show Transcript YOU ARE WATCHING WBCV 5:00 BEN: BEN: GENERALLY MOST PEOPLE LIKE GETTING MAIL FROM THE I.RS IT IS USUALLY BAD NEWS. A LOT OF YOU HAVE FOUND A LETTER LIKE THIS ONE. IT INCLUDES INFORMATION ABOUT PAYMENTS THE IRS COULD BE SENDING YOUR WAY STARTING NEXT MONTH. DEMOCRATS IN CONGRESS PASSED THE MOST RECENT STIMULUS IN MARCH. THE 1.9 TRILLION DOLLAR RESCUE PLAN. IT INCLUDED AN EXPANSION OF THE CHILD TAX CREDIT FORHIS TYEAR. JUST 2021. IT GOES FROM 2000 PER KID TO 3000 PER KID BETWEEN AGES XSI AND 17. IT IS 3600 BUCKS FOR EACH KID UNDER THE EAG OF SIX. THE BILL CALLS FOR THE IRS TO SEND YOU MONTHLY ADVCEAN PAYMENTS. STARTING IN JULY AND RUNNING THROUGH THE END OF THE YEAR. IF YOU ARE OWED 3000, YOU WILL GET 250 BUCKS A MONTH FOR SIX MO ....
Win McNamee/Getty Images One Democrat said he wanted fewer households with six-figure incomes getting the stimulus benefit. The one-year cash payments for families are set to start next month, but it s unclear whether they ll be permanent. A strong majority of Democrats in the House and Senate back making permanent a one-year cash benefit from President Joe Biden s $1.9 trillion stimulus: up to $300 monthly checks to the vast majority of American families. The $1.9 trillion coronavirus relief package passed in March increased the child tax credit s amount to $3,600 per child age 5 and under, and $3,000 for every kid between 6 and 17. Individuals earning below $75,000 and couples making under $150,000 qualify for the full check. ....
Where Are the Unemployment Tax Refunds From Your State? The IRS has stated that roughly ten million Americans likely overpaid on their unemployment taxes in 2020 and qualify for the refunds that could amount to thousands of dollars. The Internal Revenue Service made quite a splash recently when it announced that more than 2.8 million refunds for 2020 unemployment benefits were sent out to eligible Americans. That story, however, left out any mention of when struggling taxpayers can get their hands on unemployment tax refunds from their respective states. And the entire process seems to be highly complicated for many of the states involved in disbursing the funds to their residents. ....