IRS TO ROLL OUT EXPANDED CHILD TAX CREDIT ON JULY 1

April 20, 2021 by TxSEA
IRS-TO-ROLL-OUT-EXPANDED-CHILD-TAX-CREDIT-ON-JULY-1.jpg?time=1642803980

Internal Revenue Service commissioner Charles Rettig indicated that the IRS is already working on implementing the
expanded Child Tax Credit and hopes to have it up by July 1st, but left the possibility there may be delays.

This Child Tax Credit increases the amount from $2,000 to $3,600 for children under the age of 6 and $3,000 for children

under the age of 18 through the rest of the year.
This credit is fully refundable in periodic advance payments.
The Internal Revenue Service is historically not a benefit delivery agency and they are likely forced to create an entire

new infrastructure to handle this.
Rettig is guessing that this new infrastructure will require a minimum of 300 to 500
people which also includes more to handle the phones.
To cover this minimum, the IRS expects to hire an additional
1,000 customer service representatives.
The IRS Criminal Investigation unit will also need more resources to filter out
the fraudsters.

TxSEA_GreyStar_White

100 Center Dr
Del Rio, TX 78840
Email: info@txsea.org

Join the TxSEA mailing list

    Copyright by Texas Society of Enrolled Agents. All rights reserved.