Provisions that could help at tax time

December 24, 2021

by Lorie Konish

  • As the omicron variant rages, additional help through the Build Back Better bill has stalled.
  • But many Americans may receive more money through more generous tax credits that were temporarily expanded due to Covid-19.
  • “It could be quite a bit of money for people who may be struggling in a rough economy,” said Amy Hanauer, executive director at the Institute on Taxation & Economic Policy.

As the Build Back Better bill and the new government aid it promised stalls on Capitol Hill, millions of Americans who may have been expecting more help amid the pandemic are being left empty handed.

But there is good news: Families can still count on additional aid at tax time, due to more generous tax credits via the American Rescue Plan Act.

Many are eager for the extra help. A petition for stimulus checks of $2,000 per month for adults has attracted almost 3 million signatures. Separately, advocacy group The Senior Citizens League has called for $1,400 stimulus checks to help older Americans stave off the negative effects of inflation and other effects of the pandemic.

 

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