HR 3247
Stop EITC and CTC Seizures Act
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Bill overview
This bill, the Stop EITC and CTC Seizures Act, aims to protect taxpayers from having their Earned Income Tax Credit (EITC) and Child Tax Credit (CTC) refunds reduced by more than the amount of their student loan debt. It limits the Treasury Department's ability to decrease refunds due to student loan payments, ensuring that the refund remains at least equal to the combined value of these tax credits. The legislation clarifies how student loan debt impacts refund reductions and applies to refunds issued after December 31, 2020.
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