The Child Tax Credit and You

The American Rescue Plan, signed by President Biden in March, includes a lot of things. For many U.S. readers of this blog, perhaps the most notable and salient is that it increased the child tax credit and, starting next month, will send monthly checks for a portion of the credit to taxpayers.

I wrote about the details over on the Surly Subgroup, but wanted to highlight a couple things about it for a specifically Mormon audience. It isn’t, of course, particular to Mormons but, falling birthrates[fn1] notwithstanding, we still tend to have (marginally) more children than the average American. Which means that the child tax credit, and its prepayment, are going to be relevant to many of us.

Of course, to understand what’s going on, we need to answer a couple questions.

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