In the Latest Round of Stimulus Checks, You May Be Eligible for $3,600 in 2022?
Even though there won’t be any more stimulus checks this year, the Child Tax Credit will help some American families out.
As part of the $1.9 trillion American Rescue Plan, a relief package enacted in the midst of the coronavirus (COVID-19) pandemic, President Joe Biden signed into law a kid Tax Credit that provides up to $3,600 per kid to qualifying families.
The refund is being broken up into two halves.
Between July and December of 2021, qualifying families received monthly payments of up to $300 per child younger than 6 and up to $250 every child older than 6 but younger than 17. The remaining 50% can be deducted from taxes in 2021.
When filing their tax return for the year 2021, families that opted out of the monthly payments will instead receive the credit all at once.
There have been numerous requests for additional stimulus checks similar to those issued in 2020, but Congress has stated that it has no plans to do so.
Forbes.com reports that due to various encouraging developments over the past year, including rising immunization rates, a rebounding stock market, and rising job figures, a fourth round of inspections seems improbable.
New Yorkers in need will get a one-time stimulus payment
In light of the ongoing COVID-19 pandemic, Governor Kathy Hochul announced last month that New York State would allocate $64 million in federal funding to provide one-time payments to struggling residents, including those with children or living in multi-generational households, and survivors of domestic violence.
The lump sums are meant to aid low-income families with things like diapers, food for families with children and seniors, and housing and relocation costs for victims of domestic violence.
The Pandemic Emergency Assistance Fund is being managed by the state’s Office of Temporary and Disability Assistance and the state’s Office for the Prevention of Domestic Violence.
Source: silive.com
