Why employers should consider the WOTC The WOTC offers substantial tax savings, potentially reducing tax liabilities by thousands of dollars. Unlike a tax deduction, a tax credit directly reduces ...

The head of the Internal Revenue Service warned Thursday that it may not be able to start sending child tax credit payments in July, as called for by the $1.9 trillion relief law.

The credit's current value was set by the Tax Cuts and Jobs Act of 2017 and will last through 2025. If Congress doesn't pass another expansion, it will revert to $1,000 per dependent child.