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Why some have yet to access funds from expanded child tax credit [Video]

wera Rodsawang | Moment | Getty Images

Child poverty fell dramatically in 2021, thanks to an expansion put in place last year that sent monthly payments of up to $300 per child to millions of eligible families.

Yet many individuals and families eligible for the child tax credit, as well as another called the earned income tax credit, may not have received the money for which they are entitled.

The take-up of the credits tends to be very large, with about 90% of eligible families applying for the child tax credit and 80% of those in line for the earned income tax credit submitting for their refund, former IRS commissioner John Koskinen said during a webcast on Monday.

“That still leaves millions of eligible taxpayer who are not participating in these programs and taking advantage of them,” Koskinen said.

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