• Alan Jacobs

How Divorced Families Can Maximize Their Relief From The New Stimulus Package

The $1.9 trillion American Rescue Plan Act of 2021 (the "American Rescue Plan") is now enacted. The package expands relief provisions first introduced in the Coronavirus Aid, Relief and Economic Security (CARES) Act from March 2020 and introduces new measures to help families and businesses. What does this mean specifically for single parents or families going through divorce? There are 3 major components:


  • Recovery Rebate Checks (also known as a stimulus check) – for parents and children

  • Child Tax Credit – for dependent children

  • Child and Dependent Care Tax Credit – for dependent children where the qualifying parent paid for care to work


There are a lot of nuances to this law. This excellent article includes a summary of the package’s major changes. The most important thing to know is that even if you did not qualify in the past, you may now, so it is highly recommended that you ask your tax preparer about your specific eligibility.

1 view0 comments

Recent Posts

See All

When a couple decides to get a divorce and one or both of them owns a business, the process is going to be a lot more complicated. Businesses can be a major point of contention between divorcing spous

Filing for divorce is one of the most difficult life-changing decisions in a person’s lifetime and one which many spouses are understandably reticent to embark upon. Various studies over the years hav