The Internal Revenue Service announced a list of financial aid Americans can claim while waiting for the official 4th stimulus checks.
More financial aid Americans can avail of. (Photo: CNET)
Other Payments Americans Can Claim
Americans across the country are still hoping for 4th stimulus check amidst the rising inflation rate. This has led to financial challenges for low-income households and most American families. Despite this, the Internal Revenue Service announced that there are other programs that Americans can access.
In a published article in MARCA, the following are the other financial programs Americans can access of while waiting for the 4th stimulus checks:
- Child Tax Credit
- Child and Dependent Care Credit
- American Opportunity Tax Credit
- Lifetime Learning Credit
- Student Loan Interest Deduction
- Adoption Credit
- Earned Income Tax Credit
- Saver’s Credit
- Residential Clean Energy Credit
- Electric Vehicle Tax Credit
Moreover, some states across the country are also offering tax rebates and tax refunds to help the residents in their states face and combat the increasing inflation rate.
READ ALSO: Stimulus Check Updated December 2023: Group Of Texas Will Receive New Payment
Tax Credit and Tax Deduction
Meanwhile, there are differences between a tax credit and a tax deduction. Tax credit is one that gives you a reduction of a dollar for the amount of tax you owe, while a tax deduction gives you a smaller benefit by allowing you a smaller amount of taxable income.
READ ALSO: $2,000 Monthly Payments For Seniors; When Will The Distribution Starts?
