Skip to content
Home » Valentine's Day » Child Tax Credit: Who could see $2,000 in 2022?

Child Tax Credit: Who could see $2,000 in 2022?

The American Rescue Plan was not extended into 2022, which made the child tax credit return to the way it was before 2021.

child tax credit paperwork

This means in 2022, the child tax credit will be worth the regular $2,000 it was years prior.

The money is slated to go out in 2023 with tax refunds.

In 2021, the child tax credit was expanded to be worth $3,000-$3,600 and the first half was sent early in staggered payments.

Thousands could see credits worth up to $1,000

This year, the $2,000 will go to children 17 and younger with household incomes not exceeding $112,500 for singles and $150,000 for joint filers.

The $2,000 is partially refundable this year.

Could the child tax credit still change for 2022?

Studies have been done to show what the 2021 expansion did for families and the results all said the same.

Finger Lakes Partners (Billboard)

Families benefitting from the expanded credit were lifted out of poverty by around 40%.

In order to be extended into 2022, the Build Back Better Bill needed to pass before 2022.

Unfortunately, this did not happen.

Democrats are working to bring the issue up again and find a resolution.

The credit being changed has bipartisan support.

Categories: News