Taxpayers in the United States Are Being Urged to Claim Their Child Tax Credits!
However, even though the April 18 deadline for filing federal tax returns has passed, the Internal Revenue Service (IRS) has encouraged those who missed the deadline to apply in order to avoid fines and interest.
Also, it is not necessarily too late for them to collect the remainder of the child tax credit for 2021 if they qualify.
According to an IRS release, “families that do not owe taxes to the IRS can still submit their 2021 tax return and claim the Child Tax Credit for the 2021 tax year at any moment until April 15, 2025, without incurring any penalties.”
In addition, for the first time in history, many families with children in Puerto Rico will be entitled to claim the Kid Tax Credit, which has been increased to provide up to $3,600 per child.
In addition, according to the IRS release, certain taxpayers would be automatically eligible for more time. This includes military soldiers who have served in a conflict zone in the past or who are currently serving in a combat zone,
support workers serving in combat zones, taxpayers who live abroad in the United States, and some disaster survivors.
It’s possible that some people will choose not to file a tax return because they did not make enough money to be obligated to do so.” However, it is possible that they will not receive a reimbursement.
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“Filing a tax return is the only method to receive a refund,” according to the IRS. In the event that a refund is owed, there is no penalty for submitting after the April 18 deadline.
Taxpayers are encouraged to use electronic filing options such as IRS Free File, which is accessible on IRS.gov until October 17 and allows them to prepare and file their tax returns for the year 2021.”