MEMPHIS, Tenn. â Time is running out for families with children to get thousands of dollars from the federal government.
Eligible families must file their taxes first if they want to get these remaining benefits for the Child tax credits. The first six payments were made monthly from last July to December.
Census Bureau surveys show that these benefits have helped millions of families cover the cost of daycare and school supplies, but members of the Children’s Defense Fund said some families are reluctant to file their taxes due to a lack of communication about the process.
The White House estimates that nearly 40 million families will benefit from the Child tax credits This year. Families are entitled to $3,000 per child aged 6 to 17 and $3,600 per child under 6, but must file their taxes first.
“There’s a real misunderstanding and misunderstanding that tax credits don’t impact public benefits because they’re not counted as income,” policy director Emma Mehrabi said. federal to the Children’s Defense Fund.
the Children’s Defense Fund is one of many nonprofits across the country helping families with this process. Mehrabi said some families fear filing their taxes and losing other supporters.
“It’s federal money that’s owed to you,” she said. “It won’t count against SNAP, won’t count against Social Security.”
Mehrabi said immigrant families feared they would be arrested by immigration if they filed their taxes and she said that was not the case either.
He said it would lift almost three million children out of poverty.
“On top of that, we haven’t completely reformed our family support system for nearly three decades, and our changing economy has left millions of families behind,” Sen. Romney said in a statement.
The plan would give families even higher monthly payments, but it would reduce other federal benefits like portions of SNAP to pay for it.
âWe don’t need to cut our public benefit programs to pay,â Mehrabi said. “In particular, if you really wanted to make sure this program was funded, we don’t have to do it on the backs of families…we can do it by taxing billionaires and corporations at a much higher rate.”
You can file for an extension with the IRS and that would give you until this fall to file your taxes and get the remaining benefits.
Â©2022 Cox Media Group