The federal child tax credit is kicking off its monthly cash payments on Thursday. If you have children, you may have gotten yours already.
Many parents are looking forward to this monthly income to help reduce the stress of challenges due to the pandemic. We spoke with a parent and an expert on the distribution of the checks that will assist many families in need.
“I am a mother of two kids, Tayla and Dawson and they’re three and one and I am a full-time mom, full-time worker at Hamot and I am a full-time student. It’s a lot.” said Morgan Pietras.
The 22-year old mother may have fewer worries this year thanks to the child tax credit. It will give parents $3,600 per child ages 0 to 5 and $3,000 for children ages 6 to 17. This is all part of President Joe Biden’s American Rescue Plan.
For Pietras, this means her kids would have almost everything they may need.
“Because they are actually in daycare so I have to make sure they have double of everything to send them to make sure they’re okay.” Pietras said.
Making sure her children are alright has been Pietras’ daily responsibility. She says the money is going to help reduce the stress after dealing with far too many challenges.
“It took me like a good three months to find a daycare because it was all packed and it was a mess, especially in 2020 when my house caught on fire.” Pietras said.
Many parents are depending on the child tax credit so they can pay their bills.
Dale DeMarco is a CPA tax preparer and he says many parents should keep tabs on the monthly payments.
“So if anybody gets an advanced payment, they should keep track on how much they actually get from the government from these advance payments.” DeMarco said.
“I’m planning on taking at least half then putting it away per month, so that way I can have savings and a backup in case something like this does happen again.” Pietras said.
DeMarco says these payments will last until December of this year. You can keep track of the payments if you click here!
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