Middle Georgia taxpayers navigating Child Tax Credit uncertainty

Tax season is upon us, and for some taxpayers around Middle Georgia, the dread of filing their taxes is even greater this year due to the uncertain status of the Child Tax Credit.

MACON, Georgia (41NBC/WMGT) – Tax season is upon us, and for some taxpayers around Middle Georgia, the dread of filing their taxes is even greater this year due to the uncertain status of the Child Tax Credit.

The new Child Tax Credit focuses on helping children in low-income families by allowing lower-income families to claim more of the refundable portion of the credit. However, the credit has not yet been passed by the Senate, leaving many taxpayers uncertain if they should wait to file their taxes.

Local tax specialist Chauncey Wilmore, with “Save Money Tax Services,” advises taxpayers to go ahead and file their taxes now, despite the uncertainty. “If the Child Tax Credit does pass in this tax season, it will be retrofitted, the IRS will go back in and issue out the increase,” Wilmore said.

Some taxpayers are excited about the potential passing of the credit.

“I’m a mother myself, so that tax credit would definitely benefit my family,” a resident we spoke with said.  “I’m looking forward to it passing. I’m not sure if it will, but it would benefit a lot of families in Macon.”

In addition to the Child Tax Credit, there are other things taxpayers can write off on their taxes. For those who make $75,000 or more, there are write-offs for solar panels, energy-efficient windows and all-electric vehicles.

Wilmore says it’s important to note that if you have marketplace healthcare insurance, you must file it and include it on your tax return. Failure to do so could result in the rejection of your return by the marketplace.