Atlanta, Georgia 2021-06-23 03:40:00 –
Atlanta (CBS46)-Monthly payments from the federal government are set to be paid to eligible parents as early as next month. In anticipation of questions from the public, the IRS has created an online tool that allows parents to check their eligibility.
Enhanced tax credits signed by President Joseph Biden as part of the COVID-19 Relief Bill are up to $ 3,600 per child under 6 and up to $ 3,000 per child under 18 Give to the family.
There are income restrictions. Tax credits are available for single taxpayers with an annual income of up to $ 75,000, heads of household with an annual income of $ 112,500, and co-filers with an annual income of up to $ 150,000.
The Eligibility Assistant website created by the IRS allows parents to determine if they are eligible for pre-credit. Parents can answer a series of questions to determine their eligibility.click Here For the edible assistant website.
A second website allows parents to check their monthly payment eligibility and opt-out. With the opt-out option, qualified parents do not receive monthly payments. Instead, parents will receive a full credit in one lump sum when filing their tax return next year.click Here For information on opting out of monthly payments, please visit our website.
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