- Hundreds of families in the US may be eligible for a generous $7,200 tax refund in 2022.
- Only a few parents will be able to receive this full amount.
- Most families have already received six advance payments and must claim the additional single payment on their 2021 tax returns.
Hundreds of families in the US will start the year on the right foot when they receive a very generous $7200 tax refund in 2022. Although the authorities have made it clear that this won’t apply to most people and only a few will be able to receive this full amount.
Under the American Rescue Plan, parents can claim up to $3,600 per child under the age of six or up to $3,000 per child between the ages of 6 and 17 as part of the expanded Child Tax Credit which was approved in March 2021.
Families in the US may receive a tax refund for up to $7200
The US government has been delivering this federal aid in advance payments since July. First, up to $1,800 for each child under 6 years of age and up to $1,500 dollars for each child between the ages of 6 and 17. They delivered in 6 monthly advance checks from July to December. Then the other half will be an additional one-time payment of up to $1,800 for each child under 6 years of age and up to $1,500 dollars for each child ages 6 to 17.
Most families have already received all six advance payments, but you must claim the additional single payment on your 2021 tax return. So how can some parents pocket $7,200 from the Child Tax Credit?
Some parents can receive $7,200 from the Child Tax Credit if they meet certain criteria. The first thing is that they must not have received the monthly advance checks that were sent out last year — either because they were unable to claim them or because they opted to receive it in a lump sum in 2022.
If your family did not receive advance checks, then the IRS could give you up to $3,600 after you file your tax return for each child under the age of six. In the event that you have more than one child, you could receive up to $7,200.
The post Families in the US will receive a check for $ 7,200 in early 2022 appeared first on Mundo Hispanico