Filing taxes can be complicated and stressful, especially during a divorce. If you are a single parent and have custody of your children, you may qualify to file your taxes as Head of Household. This status can have significant financial benefits, but it also comes with certain responsibilities and requirements. First, let’s define what it […]
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RSS feed for this sectionExpanded Child Tax Credit for 2021
Categories: child tax credit
The American Rescue Plan increased the amount of the Child Tax Credit (CTC). It is available for 17-year-old dependents and is it fully refundable for most families. Families can get the credit, even if they have little or no income from a job, business or other source. To get the CTC, eligible families must file […]
COVID – Changes in Child Tax Credit
Categories: child tax credit, divorce, kids, Uncategorized
Important changes to the Child Tax Credit are helping many families get advance payments of the credit. If you have a child, another payment should be coming your way this month, and again in November, and in December. The IRS pays half the total credit amount in advance monthly payments beginning July 15. […]