Child Tax Credit: Can Both Parents Qualify for the Same Kid?

Child Tax Credit: Can Both Parents Qualify for the Same Kid? Here's Everything You Need To Know


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The American Rescue Plan or the child tax credit has triggered a lot of difficulties among divorced parents. This new law bears a lot of issues. 
President Joe Biden signed the $1.9 trillion American Rescue Plan Act into law on Thursday, March 11. The new law states that it would raise the child tax credit to $3,000 per child who is at the age bracket of 6 to 17 years old and $3,600 per child under the age of 6, all for the 2021 tax year. 
Even though it struggles divorced parents on their child's taxes, the newly signed child tax credit can as well help the family generate more income. The newly signed law will financially assist households with $1,400 stimulus checks and unemployment benefits all from the federal government. 

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