Anyone here going to rake it in with monthly child tax credit checks?

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The amount phases out at a rate of $50 for every $1,000 of annual income beyond $75,000 for an individual and beyond $150,000 for a married couple.

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There’s the task of finding all the people who should receive the money, communicating to them that this money is out there and they qualify for it, and then getting them into the system.

A recent Data For Progress poll found that 53 percent of Americans know little or nothing about the revised credit. “If you’ve already filed for your taxes in 2020 or 2019, or if you applied for a stimulus check through the IRS’s website that they set up during the pandemic, then there’s nothing else that you need to do,” says Stephen Nuñez, the Lead Researcher on Guaranteed Income at the Jain Family Institute, an applied research organization in the social sciences. (Nuñez studies cash welfare policy, that includes field work to answer policy-relevant questions about the social safety net.). You’re covered, and you should receive the benefit, whether you’re expecting it or not. However, if you are not aware — and, unfortunately, many of the most vulnerable households are those who are not aware — they really do need to come forward, if they haven’t filed taxes already.”

An estimated one third or more of the children who live in poverty also live in households that don’t file taxes. And those are the families likely to most benefit from extra money each month. The Biden administration has set up the Child Tax Credit Non-filer Sign-up Tool to sign up. Its focus is on helping the extremely poor and homeless get their benefit.

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