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A tax refund interception, also referred to as a tax refund offset, is the act of an agency responsible for sending tax refunds using all or part of a refund to fulfill an obligation of the taxpayer rather than sending the money to the taxpayer him/herself. Some common obligations for which tax refunds are intercepted include student loans ...
When you’re delinquent on child support, your tax refund is typically intercepted and sent to the appropriate child support agency through the Treasury Offset Program. The same rules applied to ...
The United States federal child tax credit (CTC) is a partially-refundable [a] tax credit for parents with dependent children. It provided $2,000 in tax relief per qualifying child, with up to $1,400 of that refundable (subject to a refundability threshold, phase-in and phase-out [b]). In 2021, following the passage of the American Rescue Plan ...
Child support in the United States. In the United States, child support is the ongoing obligation for a periodic payment made directly or indirectly by an "obligor" (or paying parent or payer) to an "obligee" (or receiving party or recipient) for the financial care and support of children of a relationship or a (possibly terminated) marriage.
Originally, the credit of up to $500 per child was nonrefundable, meaning that parents had to earn enough to pay federal income taxes to receive it. But it also began to phase out for single ...
When you're responsible for paying child support, you might wonder if you can claim the payments as a deduction on your tax return. Although child support payments can't be claimed as a tax ...
When the Biden administration passed the American Rescue Plan Act (ARP), it expanded the Child Tax Credit (CTC) temporarily for 2021, creating the largest U.S. child tax credit ever. The CTC has ...
The Uniform Interstate Family Support Act (UIFSA) is one of the uniform acts drafted by the National Conference of Commissioners on Uniform State Laws in the United States. First developed in 1992 [1] the NCCUSL revised the act in 1996 [2] and again in 2001 [3] with additional amendments in 2008. [4] The act limits the jurisdiction that can ...
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