Child Tax Credit
The most frequently asked tax questions related to Child Tax Credit
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The income level at which the credit phase-out begins is increased to $400,000 for taxpayers filing married filing jointly and $200,000 for all others. The credit continues to phase out at a rate of $50 for every $1,000 that AGI exceeds the threshold amounts.
The refundability of the credit was also modified so that the earned income threshold is reduced to $2,500.
was under age 17 at the end of the current year,
Did not provide over half of his or her own support for the current year,
Lived with you for more than half of the current year
Is claimed as a dependent on your return,
Does not file a joint return for the year
Was a U.S. citizen, a U.S. national, or a U.S. resident alien.
Children may be your blood children, grandchildren, step children, and / or adopted children. Foster children also fall under this category as long as they have lived in your home for the entire year in question.
Qualifying children must be citizens or residents of the United States who can be claimed as dependents by the taxpayer.
The portion that is available for a refund depends on the number of children you have, your total earned income, and, sometimes, the amount of taxes you have paid over the year to Social Security and Medicare.
Use Form 8812 to claim the Additional child Tax Credit.