Jim Guarino Featured in AccountingWEB
An article by James Guarino, “States Take Child Tax Credits Into Their Own Hands,” was featured in AccountingWEB. The recently passed Inflation Reduction Act of 2022 did not include an extension of the expanded child tax credit provision, which was enacted under the Biden Administration’s American Rescue Plan for 2021 federal tax returns, he writes. However, all is not lost… the federal child tax credit is still available to families for tax year 2022 and thereafter, albeit, under the “old” tax law rules that existed prior to the enactment of the American Rescue Plan.