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Child tax credit update for 2022

As the IRS begins distributing the sixth installment of the Extended Child Tax Credit, some parents could receive up to $8,000 worth of payments in 2022.

Those with adjusted gross income below $125,000 and with at least two children under the age of 13 can get some extra cash.

The payments are part of the child and dependent tax credit. This credit is to help families provide care and support to their children by cover other costs.

The American bailout was passed by Congress in March, creating a $1.9 billion bailout that expands CTC . Program to include direct payments for the first time.

Families will have to apply for the money using form 2441 and include it when they file their Federal income tax return. For more information you can check IRS website.

To claim a CTC when filing in 2022, you must file a previous year’s tax return.

Read our Kids Tax Credits live blog for the latest news and updates...

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https://www.the-sun.com/money/4386852/child-tax-credit-2022-update-irs-stimulus-check/ Child tax credit update for 2022

DevanCole

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