West Virginia MetroNews – Parents across West Virginia began noticing new money from the federal government in their bank accounts Thursday, part of the new expanded child tax credit program. Read the full article.
The $1.9 trillion American Rescue Plan passed by Congress earlier this year provides monthly payments to adults with children. Basically instead of receiving the credit on your taxes for your children when tax returns are filed you get it earlier in a payment.
Eligible families will receive $300 a month fro each child under 6 and $250 a month for those between the ages of 6 and 17. The payments come once a month through December.
West Virginia Center on Budget & Policy Executive Director Kelly Allen said the early payments will help many West Virginia families. Her organization has surveyed several residents to find how they plan on spending the money.
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