WASHINGTON: The government launched a new website on Monday, the first day of tax filing season, to help those eligible for the expanded tax credit under last year’s pandemic relief bill claim the second part of their due payments.
The site, ChildTaxCredit.gov, introduces a new tool that instructs taxpayers to file options, eligibility information and instructions on how to obtain credit, according to the Treasury Department. Both virtual and in-person support will be made available in multiple languages.
The child tax credit was expanded as part of President Joe Biden’s $1.9 trillion coronavirus relief package, which included monthly payments of as much as $300 per child. Since the payments were first disbursed in July, the Treasury and the IRS have issued nearly $93 billion to millions of families, according to the Treasury. In December, 61 lakh children got the increased benefit.
Families have received half of their extended 2021 credit on a monthly basis and the remaining half will be received after they have paid taxes. The increased portion of the Child Tax Credit program has since lapsed. For tax year 2022, child tax payments increase to $2,000 per eligible child per year, expanding age eligibility to 17-year-olds in 2022.
The Biden administration has proposed extending the increased child tax credit for an additional year to its nearly $2 trillion social spending plan, but the bill is stalled in Congress.
As tax filing season begins, Treasury’s priority is ensuring that eligible families are able to receive the full Child Tax Credit, Treasury Deputy Secretary Wally Ademo said in a written statement.
He said the relief has helped families pay for essentials when they need it most and lakhs of children can continue to receive benefits by getting the second half or full amount of the credit.
On a call with journalists and tax professionals on Monday, IRS Commissioner Chuck Ratig reiterated the importance of taxpayers to the efficiency of filing accurate tax forms electronically and requesting direct deposit refunds.
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