How receiving a child tax credit or stimulus check affects your taxes

The video tutorial explains the financial relief measures provided during the pandemic, including the third round of economic impact payments and the temporary expansion of the child tax credit. It details the eligibility criteria, amounts, and the difference between tax credits and deductions. The tutorial also covers the IRS documentation required for tax filing and the potential need to repay some credits if income increased in 2021. Viewers are advised to verify their payments with IRS records to ensure accuracy.

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