Tag Archives: Child Tax Credit

Advance Child Tax Credit: Should You Opt-Out?

advanced child tax credit

The American Rescue Plan Act (ARPA) included a provision that allows for the IRS to begin making advanced payments of the Child Tax Credit next month. This credit, up to $3,600 per child under the age of 6 and $3,000 per children ages 6 to 17, is typically received as a credit applied against your […]

The American Rescue Plan Act of 2021 – Individual Provisions

american rescue plan

Below we have assembled a brief summary of some of the individual taxpayer provisions of the American Rescue Plan Act of 2021 (ARPA), passed on March 11, 2021. A Third Round of Stimulus Recovery rebate credits (stimulus checks). ARPA provides a third round of nontaxable stimulus checks directly payable to individuals. These payments are structured […]