Ways and Means mark-up, refundable child tax credit | KPMG | US
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Legislative update: Ways and Means mark-up, refundable child tax credit

Ways and Means mark-up, refundable child tax credit

The House Ways and Means Committee today held a mark-up of a number of pieces of legislation.


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Among the bills approved by the Committee today were:

  • A bill (H.R. 4722) that would require that a taxpayer provide a Social Security number in order to claim the refundable child tax credit. Under the legislation, an individual taxpayer identification number (ITIN) would not be sufficient for purposes of claiming the child tax credit.
  • A bill (H.R. 4723) that would require individuals who receive Obamacare exchange subsidies they were not entitled to receive by reason of underreported income to repay the full amount of overpayments to the Treasury. 

Together the two bills are estimated to raise $13.5 billion over the next 10 years.

In advance of today’s mark-up, the Joint Committee of Taxation (JCT) prepared reports concerning the legislation. These reports are available on the JCT website.

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