February 10, 2022

CNBC: 1 in 3 young adults will see an average $800 tax credit boost this year

media mention

For the 37% of workers 19 to 24 who are now eligible to receive the credit, the expansion will mean an average boost of $820, according to a study from the Institute on Taxation and Economic Policy. If an individual has no other tax liability, that money will be sent to them in their refund for the year.

“For a lot of people in that age range, that can be a pretty meaningful amount of money for them to receive,” said Aidan Davis, a senior state policy analyst at the Institute on Taxation and Economic Policy and the author of the study. Read more