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The child tax credit under the Tax Cuts and Jobs Act of 2017. Top plateau would be higher for more children. Under the Tax Cuts and Jobs Act of 2017 (TCJA), for the years 2018–2025 (excluding 2021, see below section Temporary Expansion in 2021) the CTC allows taxpayers to reduce their federal tax liabilities by $2,000 per qualifying child (see Eligibility).
Those who received $3,600 per dependent in 2021 for the Child Tax Credit will, if eligible, get $2,000 for the 2022 tax year. ... in the tax year 2022 should receive a form 1099-K by January 31 ...
This taxpayer will drop his/her tax liability to $0 and then report a refundable credit of $1,800 (i.e., 3 x $1,600 or $4,800 - $3,000) using Form 8812 where he/she will report the Additional ...
The ACTC cannot be claimed if you file Form 2555 or Form 2555-EZ, excluding foreign earned income. ... list your children and other dependents on Form 1040 and attach a completed Schedule 8812 ...
Eligible families that didn’t receive any advance child tax credit payments during 2021 can still claim the full amount of the child tax credit on their federal tax return.
The IRS recently revised the 2021 Child Tax Credit and Advance Child Tax Credit Payments Frequently Asked Questions page on its website. With these changes, Publication 972, Child Tax Credit, is...