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Tax credit amount: A credit for 20% of the state’s Earned Income Tax Credit. Eligibility: Have child(ren) under 12 years olf. Maine. Program name: Dependent Exemption Tax Credit.
The Child Tax Credit offers up to $2,000 per qualifying child for the 2024 tax year, with $1,700 potentially refundable to eligible taxpayers.
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).
There are two child tax credits parents can claim — the Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (ACTC). Both credits help families with qualifying children's tax breaks.
The maximum tax credit per qualifying child is $2,000 for children under 17. For the refundable portion of the credit (or the additional child tax credit), you may receive up to $1,700 per ...
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 ...
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 child tax credit (CTC) is a nonrefundable tax credit available to taxpayers with dependent children under the age of 17. The maximum tax credit per qualifying child is $2,000, while the maximum...