IRS Economic Impact Payments and the Recovery Rebate Credit

The 2020 Recovery Rebate Credit was paid in advance to most people in the first two rounds of Economic Impact Payments. If you're like most people who were eligible, you've already received the full amount. If you received the full amount for the first two Economic Impact Payments, do not include any information about your payments [...]

Child Tax Credit and Credit for Other Dependents

This video was published by the IRS. Many parents claim the Child Tax Credit to help with the cost of raising children. The credit can be $2000 per qualifying child. This credit applies if: The child is younger than 17 at the end of the tax year. You claim the child as a dependent. The child [...]

Child Tax Credit and Credit for Other Dependents

Many parents claim the child tax credit to help with the cost of raising children. This year the credit may help even more parents because the income limit for those who qualify has increased to $400,000 for married couples filing jointly and $200,000 for all other filers. Also the credit amount for each [...]

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