The Child Tax Credit Just Increased to $3,000 for 2021 -- Do You Qualify?
The $1.9 trillion American Rescue Plan Act has officially made its way through Congress and is set to be signed into law by President Biden before the weekend. And while the third round of stimulus checks is getting most of the headlines, the bill could provide an even bigger windfall to some families thanks to a big boost to the Child Tax Credit.
The new legislation expands the Child Tax Credit for 2021 in order to provide additional financial relief for families. In short, the credit is increased from $2,000 per qualifying child to $3,000 for children from ages six to 17 and $3,600 for children under six.
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Source Fool.com