Three weeks into the 2024 tax season, and Congress is still working on a plan to send more money to lower-income families with children this year. The bill, the Tax Relief for American Families and Workers Act of 2024, would expand the child tax credit by boosting the maximum refundable amount per child over the next three years.
IRS Commissioner Daniel Werfel said on Feb. 15 his agency is following closely the status of the bill now with the Senate and is “poised to move quickly to implement” the child tax credit expansion if the bill does become law.
