The American Rescue Plan Child Tax Credit Delivers Cash This Year
The standard way tax credits work is that you claim them next year on your tax return.
The American Rescue Plan Act (ARP) is different!
You could see cash this year and in 2022.
Here's who qualifies
For single parents making less than $75,000, and married parents earning less than $150,000, the American Rescue Plan increases the Child Tax Credit to $3,600 for every child 5 years of age and under, and $3,000 for every child from 6 to 17 years old — up from the previous cap of $2,000.
That money could appear in the form of $300 a month, or $250 a month, depending on your child’s age.
The IRS said earlier this month that it’s on track to begin sending out the “advance payments” as soon as July, and will continue to distribute them monthly through December of this year.
Then, the second half would come in a lump sum with tax refunds in 2022. Just be sure to file a tax return this year for 2020, claiming your dependents.
Want Help With The Tax Credits & Subsidies From The ARP?
We will make sure that you get the maximum amount of financial relief that you’re entitled to.
You probably also qualify for low or zero-premium healthcare with the lowest deductibles, lowest out-of-pocket costs, and the lowest cost to see your doctor.
This is full coverage and covers everything from the private health insurance companies that you can choose like Anthem, Blue Cross, Blue Shield, Cigna, Aetna, United Healthcare, and all the brand name carriers that you know and trust.
Call us at (877) THE HALO to make sure you get every dollar this new law wants to give you.
Discuss how the new law impacts you
Review your coverages
Show you all your options
Help you complete your application
Calculate your subsidy and get you the maximum
Submit it to the federal government
Get you approved within minutes!