Some Maine Families Will Get An Additional $1,400+ From The IRS
If you have been keeping a close eye on the news, there is a good chance that you have picked up on the fact that there is a lot that went into President Biden's "American Rescue Plan". In layman's terms, it looks like it is a bunch of smaller programs (a BUNCH) all piled into one package.
One part of that package was the expansion of the child income tax credit. If you are a parent, that is why you have been getting a chunk of change from the government for the last few months.
Because these "checks" are based on the number of dependents you claim on your taxes, it may seem like people who had babies in 2021 would be left out of these payments.
According to WGME, that will not be the case. However, it could take more time for you to get your money.
You should get your payment once you file your 2021 tax return.
Keep in mind, though, that all of the income limit rules still apply. Per the IRS rules, that means single filers with incomes up to $75,000 and married joint filers with incomes up to $150,000. If you bring in more than those amounts, it doesn't mean you'll get nothing. It just means you'll get less. And, there are no limits on the number of dependents you can claim.
You can get more details about the child income tax credit HERE
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