Recurring Child Tax Credit Payments Pose Challenges for IRS

March 23, 2021, 8:45 AM

Democrats trying to make an expanded child tax credit permanent could face a challenge in their pitch—the IRS is lowering expectations about its ability to regularly issue the payments.

The latest stimulus law (Public Law 117-2) temporarily expanded the credit and directed the IRS to pay out the credit regularly during the year, rather than in an annual lump sum. IRS Commissioner Charles Rettig told the House Ways and Means Committee on March 18 that the extended filing season this year will delay work on a portal for families to claim children eligible for the payments. ...

To read the full article log in. To learn more about a subscription click here.