The Biden administration is kicking off an outreach campaign to get millions of families to file their taxes so they can receive the second half of payments from the expanded child tax credit.
Vice President Kamala Harris, Treasury Secretary Janet Yellen and White House senior adviser Gene Sperling are hosting a virtual event Tuesday to encourage people to send their tax forms to the IRS.
Administration officials estimate $193 billion would go to 58 million eligible households that file taxes. That means families would receive credits on their taxes or refunds, averaging $3,330 from this provision.
The expanded child tax credit was passed as part of the last round of COVID-19 stimulus that was signed into law by President Joe Biden in spring 2021. The provision provided most U.S. families with $3,600 annually for each child 5 or younger and $3,000 for children aged 6 to 17.
The tax breaks started going out to families as monthly payments last July. Families will get their payments from January 2020 to June 2020 as part of a lump sum on their 2021 tax returns.
Parents who had a baby, adopted a child or became legal guardians in 2021 are eligible for a $5,000 tax refund when filing with the IRS this year.
Biden hoped to extend the child tax credit program in 2022 as part of his "Build Back Better" social spending program. However, that legislation has stalled in the Senate.
Harris, Yellen and Sperling will host their virtual event Tuesday at 9:30 a.m. ET. in Washington, D.C.
