Child Tax Credit: IRS warns of potential delays for monthly checks
CBSN
The expansion of the Child Tax Credit is considered one of the most significant tax changes in President Joe Biden's $1.9 trillion American Rescue Plan, given the measure will pay out monthly checks later this year to millions of families. But the IRS is warning that families may face delays in receiving the checks as it grapples with sending stimulus checks and handling its current tax season duties.
The relief bill overhauled the Child Tax Credit (CTC) by expanding the benefit from $2,000 annually to as much as $3,600 per child, including more low-income families in the tax benefit — and doling out half of the money through monthly cash payments. Those monthly payments are scheduled to start in July and run through December, and could provide a measure of financial stability to millions of families as the economy begins to recover from the pandemic. "It might be a challenge to get into monthly right out of the box," IRS commissioner Charles Rettig told lawmakers on Thursday. He added that the tax agency would "do our best."
In the past year, over 135 million passengers traveled to the U.S. from other countries. To infectious disease experts, that represents 135 million chances for an outbreak to begin. To identify and stop the next potential pandemic, government disease detectives have been discreetly searching for viral pathogens in wastewater from airplanes. Experts are worried that these efforts may not be enough.
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A former local mafia boss died Wednesday after he was shot in his car in the middle of a busy highway near the French city of Grenoble, local authorities and sources close to the case told French news agency AFP.
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Washington — Democratic Rep. Raúl Grijalva of Arizona died Thursday morning after "a long and brave battle" against cancer, according to his office.
Dollar General has a particularly clear view into the pocketbooks of low-income Americans, given those shoppers are the discount retailer's core customer base. And some are so financially pinched they can no longer afford basic necessities, the chain relayed on Thursday.
President Trump has made a number of inaccurate claims about Canada in the past week as he imposed new tariff hikes on the country and touted his plans for more.
Those who glance up at the sky tonight will have an opportunity to catch the March 2025 "Blood Moon," a phenomenon that colors the full moon in shades of red, orange and yellow during a total lunar eclipse.
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Oliver Miller, a beefy center who helped Arkansas advance to the Final Four before playing nine seasons in the NBA, has died. He was 54.