LOUISVILLE, Ky. (WDRB) -- Parents need to file their taxes by Monday, May 17, to claim the expanded Child Tax Credit for 2020. If not, their tax credit may be estimated on a prior return.
"There are, you know, a couple thousand dollars per kid on the table," said Terry Brooks, executive director for Kentucky Youth Advocates. "That makes a real difference for families."
Kentucky Youth Advocates said the credit is critical to helping all families with the expensive job of raising kids.
It's part of the American Rescue Plan.
It breaks down to between $250 and $300 a month, depending on the age of the child.
U.S. Congressman John Yarmuth said more than 146,000 children in Louisville could benefit from the expanded child tax credit.
The IRS needs parents to file their taxes by Monday to calculate and send payments, starting in July. If parents don't file by May 17, the tax credit will be estimated from your 2019 return. For more information, click here.
Copyright 2021 WDRB Media. All Rights Reserved.
