Child Tax Credit Updates Quiz

What is the current status of the child tax credit expansion bill?

• It is awaiting a vote in the House of Representatives.

• It has been rejected by the House of Representatives.

• It is under consideration in the Senate.

• It has been signed into law by the President.

What is one of the proposed changes in the child tax credit expansion bill?

• Increasing the refundable amount to $1,800 for 2023.

• Eliminating the credit for 2025.

• Reducing the credit amount to $1,000 per child.

• Making the credit non-refundable.

Why is there a delay in the Senate regarding the child tax credit bill?

• The Senate is currently in recess.

• The bill has been vetoed by the President.

• The Senate is occupied with other matters.

• The bill has already been passed by the Senate.

What advice does the IRS commissioner give regarding tax filing?

• File taxes only after consulting a tax professional.

• Wait until the bill is passed before filing.

• File taxes now and the IRS will update returns if needed.

• Do not file taxes this year.

What is a potential consequence of waiting to file taxes until the bill passes?

• You will not be able to file taxes at all.

• You will not receive any refund.

• Your refund may be delayed.

• You will have to pay a penalty.