Brought to you by KOFE, Knowledge of Financial Education The financial crisis caused by the COVID-19 pandemic has been tough on people’s finances and lives overall. Parents, in particular, have faced some monumental challenges—from how to balance homeschooling with remote work to how to manage childcare as they’re called back to the office. In response to these challenges, the American Rescue Plan Act of 2021 expanded the Child Tax Credit, offering advance payments that are set to begin July 15. If you are a parent with qualifying child dependents in your household, these advance payments may provide crucial funds that…
What Parents Need to Know about the Advance Child Tax Credit
Brought to you by KOFE, Knowledge of Financial Education The financial crisis caused by the COVID-19 pandemic has been tough on people’s finances and lives overall. Parents, in particular, have faced some monumental challenges—from how to balance homeschooling with remote work to how to manage childcare as they’re called back to the office. In response to these challenges, the American Rescue Plan Act of 2021 expanded the Child Tax Credit, offering advance payments that are set to begin July 15. If you are a parent with qualifying child dependents in your household, these advance payments may provide crucial funds that…