More than that, according to the Center on Budget and Policy Priorities, the credit is fully reimbursable, with the dollar cap and income limit that made it impossible for many families with children to obtain the full amount.
As announced by the IRS, tax credit payments will start being sent to eligible families as early as July 2021, with the payments possibly extending to 2025.
Read also: 13 Important Things That Will Become More Expensive in 2021
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