Child tax credits expanding for 2021
SHREVEPORT, La. (KSLA) - The deadline to file your taxes is just three days away. For parents who file their children every year, this time around you can qualify to get more back and even get the money early.
The child tax credit has increased because of the American Rescue. Instead of receiving $2,000 per child under the age of 17, now you will get $3,000 and an additional $600 for children under the age of six.
Louisiana currently ranks number two in the nation for poverty, with Arkansas at fourth and Texas at twelfth. Neva Butkus with Louisiana Budget Project says this is the boost many families need during a pandemic.
“We have a lot of families, and kids that live in deep poverty in Louisiana which means that life is at the 50 percent threshold. So the poverty rate is about 2,500 to 2,600 for a family of four to survive on for the whole year, but in Louisiana thousands of children live at half of that,” she said.
Executive Director of Families Helping Families Chanel Jackson said this could help the families they serve with disabilities.
“It’s going to give them additional money to pay for additional therapy for their kids and give them money to pay for co-pays,” she said.
Sharcarshica Jackson said it will help her family and others who might have seen impacts from the pandemic.
“Some families can’t even feed their kids, pay bills on time,” she said.
The increased child tax credit is only temporary and must be filed on your 2021 taxes. The deadline is May 17.
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