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Child Tax Credit: Is it going to change for 2022?

In 2021 the child tax credit was expanded to pay families thousands more as well as send them the first half of the credit in advanced installments.

child tax credit tax forms

The Biden administration had hoped to extend it into 2022, but the Build Back Better bill failed to pass in time.

This meant that the extra $250-$300 parents saw from July through Dec. 2021 ended in Jan. 2022.

The Democratic party worked tirelessly to pass the extension, but Democratic Senator Joe Manchin could not give his support.

The Republican party did not support it either.

What happens with the child tax credit now?

Democrats are still working to bring back a child tax credit similar to the 2021 one.

Manchin stated he wanted a work requirement with the proposed one.

While not everyone agrees on that part, the goal is to get a bill passed.

Finger Lakes Partners (Billboard)

Will there be changes to the CTC in 2022?

The child tax credit of 2021 lifted 40 million children out of child poverty.

The overall goal is to help parents be able to raise their children.

If a work requirement is added, then parents in households relying on Social Security or disability entirely would not benefit.

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