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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).
Child Tax Credit As soon as your child is born, you’re eligible for the Child Tax Credit , which pays up to $3,600 for every child under the age of 17, depending on your income.
Comparison of the expanded CTC and the CTC under the Tax and Jobs Act of 2017 for a married couple filing jointly (depicts amount of credit per child) The child tax credit is available to taxpayers who have children under the age of 17 (or in 2021 under the age of 18). Since 2018, the CTC is $2,000 per qualifying child.
The child tax credit (CTC) is a partially refundable tax credit available to taxpayers with dependent children under the age of 17. The maximum tax credit per qualifying child is $2,000, $1,700 of ...
State. Program Name. Tax Credit Amount. Eligibility. Refundable. California. Young Child Tax Credit. $1,000 to each qualifying family with earnings under $25,000, reduced credit of less than ...
H.R. 4935 would increase the amount of the child tax credit and the income thresholds at which the credit begins to phase out for taxpayers. Under current law, an individual may claim a tax credit of $1,000 for each qualifying child under the age of 17. H.R. 4935 would index the $1,000 amount for inflation starting in 2015.
The child tax credit isn't looking at the dramatic, generous changes that many families saw during the pandemic when the credit was worth up to $3,600 for each qualifying child age 5 or younger on ...
Currently, qualifying families can take a $2,000 per child credit for children under 17. Taxpayer income must be less than $200,000 for a head of household filers and $400,000 for joint filers for ...