Stimulus Update: The IRS ended up paying $3,600, but $2,000 is still due.

The American Rescue Plan Act paid a $1,400 check to all eligible adults and dependents.

[{"selector":"#anim-767dfb81-2dcf-4047-81fd-20488a8b455f","keyframes":{"transform":["scale(1)","scale(1.5)","scale(0.95)","scale(1)"],"offset":[0,0.33,0.66,1]},"delay":0,"duration":1450,"easing":"ease-in-out","fill":"both","iterations":1}] CREDIT GETIMAGE

[{"selector":"#anim-9dbcb1e0-4414-4a5f-ac92-cf421e501533 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Parents received payments of up to $3,600 for children under age 6 or $3,000 for children ages 6 to 17. Parents received payments of up to $3,600 for children under age 6 or $3,000 for children ages 6 to 17. CREDIT GETIMAGE

[{"selector":"#anim-5ccfefd8-f777-4067-a0b3-ff78f4a0d204","keyframes":{"transform":["scale(1)","scale(1.5)","scale(0.95)","scale(1)"],"offset":[0,0.33,0.66,1]},"delay":0,"duration":1450,"easing":"ease-in-out","fill":"both","iterations":1}] These payments were for the 2021 tax year, now the end of 2022. These payments were for the 2021 tax year, now the end of 2022. CREDIT GETIMAGE

[{"selector":"#anim-72245fd7-fa13-49cf-995c-906a3ef40bf0 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] The IRS has indicated that the $2,000 payment may still be given to parents who qualify for additional financial aid. The IRS has indicated that the $2,000 payment may still be given to parents who qualify for additional financial aid. CREDIT GETIMAGE

[{"selector":"#anim-b14347c5-0b45-41ea-8a26-d59e188863ac [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] The most important of the changes the IRS made was the end of the Expanded Child Tax Credit. The most important of the changes the IRS made was the end of the Expanded Child Tax Credit. CREDIT GETIMAGE

[{"selector":"#anim-630992f3-2263-4ad0-9883-46c5df82894a","keyframes":{"opacity":[1,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-a3b805b7-ddf3-457f-8f79-b395c067f66f","keyframes":{"transform":["scale(3)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] For many American parents struggling because of inflation, the end of this credit came as a major blow. For many American parents struggling because of inflation, the end of this credit came as a major blow. CREDIT GETIMAGE

[{"selector":"#anim-69740ced-e5d1-4723-a394-af51c8c66309 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] The good news is that the IRS clarified that many parents will still be eligible for payments of up to $2,000 for the 2022 tax year. The good news is that the IRS clarified that many parents will still be eligible for payments of up to $2,000 for the 2022 tax year. CREDIT GETIMAGE

[{"selector":"#anim-fe01490f-a70f-48ab-bf79-2005fb453a65 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Eligible parents can claim a credit of up to $2,000 when they file their tax return – a total of $1,400 that is refundable. Eligible parents can claim a credit of up to $2,000 when they file their tax return – a total of $1,400 that is refundable. CREDIT GETIMAGE

[{"selector":"#anim-1da0e9a4-f862-449c-aedc-d570a8f0cad9 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-14.872448766439222%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Payments of up to $2,000 per child can also be claimed when the 2022 return is filed. Payments of up to $2,000 per child can also be claimed when the 2022 return is filed. CREDIT GETIMAGE

Stimulus Update: The IRS ended paying $3,600, but $2,000 is still due.

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Stimulus Update: The IRS ended up paying $3,600, but $2,000 is still due.

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The American Rescue Plan Act paid a $1,400 check to all eligible adults and dependents.

The American Rescue Plan Act paid a $1,400 check to all eligible adults and dependents.

Stimulus Update: The IRS ended paying $3,600, but $2,000 is still due.

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