By the end of Monday, tens of millions of American families will have claimed their child tax credit on their 2023 tax returns. But for many families, that credit will be hundreds, or even thousands, of dollars smaller than it could have been. And all the blame for those smaller credits belong to Senate Republicans. In 2021, the American Rescue Plan temporarily increased the tax credit from $2,000, where it was set under the 2017 tax cuts, to $3,000 (or $3,600 for children under 6). It also made...
If you're still waiting on your child tax credit refund to arrive, we'll
Tax Day is in two days, which means you're running out of time to claim your child tax credit money. Here's how the credit works this year.
If you're eligible for the child tax credit this year and haven't filed your tax return, you have less than two weeks left. We'll explain how the credit works this year.
The American Rescue Plan, a landmark legislation, has not only increased the Child Tax Credit but has also broadened its reach, aiming to provide substantial assistance to families caring for children. This expansion, hailed for its potential to significantly alleviate child poverty, has seen several revisions, including increased credit amounts, full refundability, and an expanded scope, particularly catering to families previously excluded from its...
Missouri lawmakers on Thursday passed a bill to expand private school scholarships statewide, an effort made possible by extensive compromises including a commitment to spend hundreds of millions of dollars more on public schools. The GOP-led House voted with a bare-minimum margin of 82-69 to send the measure to Republican Gov. Mike Parson. If signed, it would offer up to $6,375 per child for expenses including tuition, textbooks, tutoring, transportation, extracurriculars and summer school. The...
A downgrade in credit ratings can cost taxpayers millions when the state refinances debt or borrows money.
(The Center Square) – In the stack of more than 80 bills the Missouri House of Representatives voted to send to the Senate is an effort to phase out the corporate income tax and end tax credits. If the Senate passes House Bill 2274 as it currently is written, the corporate tax rate would decrease from 4% to 3% on Jan. 1, 2025, drop to 2% in 2026, 1% in 2027, and no corporate tax would be imposed in 2028 and thereafter. The bill was first read in the Senate in late March and no...
SubmittedA tax credit is an amount taxpayers claim on their tax return generally to reduce their income tax. Eligible taxpayers can use them
We seem to tacitly accept that we will never give teachers the funding they need to do the job we want them to do, so instead we are going to try to make buying school supplies a little more palatable to them.
We seem to tacitly accept that we will never give teachers the funding they need to do the job we want them to do, so instead we are going to try to make buying school supplies a little more palatable to them.
I spent my first birthday in a shelter. Decades later, after doing all I was supposed to do to lift myself up out of poverty, I’m sofa hopping with my children. I live in Las Vegas, where I work on a program helping low-income women and children find support to keep a roof over their More