Tag Archives: Credits

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 […]

Child Related Tax Benefits For Reducing Your Tax Burden

Being a parent can have its benefits. This is especially so during tax time. No, your kids will probably not help you sort through your tax receipts, but you can certainly claim some child-related tax benefits when you file your federal tax returns. Some of these benefits include: Claiming the Child as a Dependent: Parents […]