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IRS will reimburse households up to $8,000 for child and dependent care expenses

Families with children will need to file a 2021 tax return this year if they want to receive any money they are eligible for from the enhanced Child Tax Credit. When you are filing though, you will want to check out other tax credits that were beefed up under the American Rescue Plan.

One may be of particular interest to families that have older dependents as well as children they claim on their tax filing. Although the Child Tax Credit gives taxpayers up to $3,600 per child, the Child and Dependent Care Credit could be worth up to $8,000 for a family with two or more children or dependents. Half that amount if they have just one.

In order to access any of the credits available you must file a 2021 tax return, the deadline is Monday 18 April, less than two weeks away.

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