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IRS chief expects new child payments to start this summer

28 days ago   |   By Star Tribune

It's a strain, but the head of the IRS said Tuesday he expects to meet the July 1 deadline in the new pandemic relief law for starting a groundbreaking tax program aimed at reducing child poverty. That means new advance monthly payments of as much as $300 per child could begin flowing to lower-income families this summer.
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IRS chief expects new child payments to start this summer

28 days ago   |   By My Sanantonio

WASHINGTON - It's a strain, but the head of the IRS said Tuesday he expects to meet the July 1 deadline in the new pandemic relief law for starting a groundbreaking tax program aimed at reducing child poverty. That means new advance monthly payments of as much as $300 per child could begin flowing to lower-income families this summer.
In testimony at a Senate hearing, IRS Commissioner Charles Rettig said it will cost nearly $400 million and require the hiring of 300 to 500 people to get the new monthly payment system and electronic portal in place for the child tax credit. “The IRS will be...
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IRS chief says the agency is on track to start monthly payments of the child tax credit July 1

IRS chief says the agency is on track to start monthly payments of the child tax credit July 1

28 days ago   |   By Business Insider

Summary List Placement IRS chief Charles Rettig told lawmakers on Tuesday that the agency was on course to start monthly payments of the child tax credit within a few months.
Asked whether the organization was ready to issue monthly checks on July 1, Rettig responded : "We are."
He also added the agency was gearing up to roll out a new portal to allow parents to sign up and get the cash in advance. Currently, people receive it in a lump sum after filing their taxes every year.
"We will launch by July 1 with the absolute best product we are able to put together," Rettig said at a Senate...
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