March highlights from The MWE Advisor: New COVID-19 relief is signed into law; Big changes to the child tax credit for 2021.
New COVID-19-Relief: The American Rescue Plan
On March 11, 2021, President Biden signed the American Rescue Plan into law. This $1.9 trillion relief bill is the third COVID-19 bill signed to help Americans since last March. It allocates money stimulus payments and unemployment benefits, vaccines, schools, small businesses, and more. Here is a summary of the more significant tax provisions. Read More
Big Changes to the Child Credit for 2021
There’s good news for certain parents: For 2021 only, under provisions included in the new American Rescue Plan Act, you may be eligible for a significantly larger tax credit for qualifying children. Though the rules have been significantly liberalized, they’re complicated. Here are the basics to help determine whether your family qualifies for this potentially valuable, but temporary, tax change. Read More