PITTSBURG, Kans. — It’s officially tax season and families can take advantage of something new this year.
The Child Tax Credit increased by $2,000 per qualifying child.
The extra money is a result of the $1.9 trillion aid package President Biden signed into law last year.
That means any parents who file taxes and has a child five-years and under will receive $3,600. For children ages 6 to 17, parents will get $3,000.
“Initially it was set to help families over the last six months to get over some of the problems with the pandemic and the financial hardship they were facing. So the excess, the other 50%, will go on your tax refund as an additional amount you’ll get,” said Debra Banfield, EA. at ML & Co Accounting Services LLC.
Parents do not have to have an income to report their children and receive the credit.