(Washington D.C.) ) Iowa U.S. Third District Congresswoman Cindy Axne touts the Child Care Tax Credit through the American Rescue Plan as a financial boost for families.
Axne says 85-percent of the families with children under the age of 17 qualify for the program. Children under the age of six receive $300.00 per month, and families with children between the ages of six and 17 receive $250.00 per month.
The IRS is paying half of the total credit amount in advance monthly payments. The other half will be claimed when they file the 2021 income tax return. These changes apply to the tax year 2021 only.
