Due to a change to the Child Tax Credit, families can get half of the fully refundable credit—worth up to $3,600 per child—as advance monthly payments in 2021 and the other half as a refund in 2022.
To help families during COVID, the U.S. government made changes to the Child Tax Credit. Families can get half of the fully refundable credit—worth up to $3,600 per child—as monthly payments in 2021 and the other half as a refund in 2022.
New York City provides a variety of programs to further social and economic objectives by mean of targeted tax incentives or benefits which reduce tax liabilities, otherwise referred to as Tax Expenditures.