Parents Use Child Tax Credit Payments for Diverse Purposes


Sydney Howard, Editor In Chief

With the dozens of problems the world is currently facing, and with COVID-19 fueling that fire, child tax credit payments help ease the burden off of families with children. With receiving checks per every child, parents utilized the payments in different ways.

“We have used the first three IRS Child tax credits towards weekend getaways, special purchases and payments towards vehicle insurance and/or repairs and maintenance,” a junior parent said.

Many parents are, overall, satisfied with this opportunity, and the effects it has had on them. With adjusting to having that extra money, many look forward to and rely on the remaining checks paid through December.

“They are helpful, and I love that they can be applied to various needs,” a parent said.

Other parents enjoyed the extra income, but would like future payments to be means-tested.

“I think it’s a good idea for people that really need it, like to pay their bills. But, we don’t really need it. It’s been really nice to have it, but I would only be in favor of it for families that make below a certain income,” a senior parent said.

With four payments so far, and with two more to come, concerns rise regarding the effects of the payments on the 2021 tax returns parents will file next year. .

“The child tax credits are money that the government usually gives you each year to help lower your tax burden, so if the government is giving those payments back to you, then you are not going to get that deduction which means it’s going to put a heavier burden on families to come up with that money when they file their taxes,” a parent said.