2018-Child Tax Credit
Answer:
Pursuant to the Act, the child tax credit is increased to $2,000 per eligible child for 2018 through 2025.
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.
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.
